According to Xinhua News Agency, citing information from the People’s Bank of China (PBOC), China has successfully laid the initial foundation for the digital yuan ecosystem.
Cumulative transaction volume has reached as high as CNY 14.2 trillion, totaling more than 3.32 billion transactions as of the end of September. In addition, there are 225 million personal digital wallets opened via the digital yuan application.
The report highlighted that the digital yuan pilot now covers 26 areas across 17 provinces in the country and has developed a variety of application models. This encompasses retail transactions, public service payments, and broad application across other sectors.
On October 27, Pan Gongsheng, Governor of PBOC, stated at the 2025 Financial Street Forum that the central bank has established an international digital yuan operations center in Shanghai to support cross-border cooperation and applications. Additionally, a digital yuan management and operations center has been set up in Beijing to oversee domestic development and further expand usage.
This “dual-center” structure was publicly unveiled for the first time following the official opening of the international operations center in Shanghai in September, underscoring China’s proactive push to firmly integrate the digital yuan into the new era of financial systems.
