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People's Bank of China vows digital yuan's accessibility for foreigners at 2022 Olympics

Hainan has become one of the regions in China where the digital yuan is being tested

HAIKOU, April 19. /TASS/. People's Bank of China (Central Bank) plans to expand the scope of digital yuan at the 2022 Olympics and provide access to it for both Chinese citizens and foreigners, stated Deputy Head of the bank Li Bo, speaking via videoconference on the sidelines of Boao Forum for Asia on Hainan.

"We are considering expanding the scope of its application. The number of cities in which the digital yuan will be used in a pilot mode will increase," he said. "For example, we will do this at the 2022 Winter Olympics in Beijing."

As the official specified, the Chinese authorities "will allow not only national users, but also international guests to use the digital yuan."

"We will continue to experiment and gradually expand the scope of its use, promote the formation of a unified system," he summed up.

Hainan has become one of the regions in China where the digital yuan is being tested. Since the end of 2019, the authorities have also tested it in Beijing, in Shenzhen, Suzhou and Chengdu, in the Xiong'an new economic zone near the Chinese capital. In October 2020, the cities of Shanghai, Changsha, Xi'an, Qingdao and Dalian were added to the list.

The XXIV Winter Olympics will be held in Beijing from 4 to 20 February 2022. The capital of China was chosen as the venue at the session of the International Olympic Committee in Kuala Lumpur on July 31, 2015.

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