HONG KONG: China has made a fresh push this week to convince consumers to try out the digital yuan, with the country’s top government body endorsing the wider use of the electronic currency in various scenarios.
The State Council, China’s cabinet, said in a policy blueprint released on Thursday that it would encourage the use of e-CNY in retail transactions, utility bill payments, and the administrative service.
While electronic payments are currently dominated by commercial solutions, Tencent Holdings’ WeChat Pay has recently started giving users the option to pay by the digital yuan, while Alipay has included the function since last year. Alipay is operated by Ant…
