E-CNY

Pilot scenario construction for using China's digital fiat currency, or the e-CNY, during the Beijing 2022 Winter Olympics has entered a final sprint as part of the country's efforts to promote the new payment form.

All construction of the digital yuan payment scenarios was completed in the offices of the Beijing Organizing Committee for the 2022 Olympic and Paralympic Winter Games, said the People's Bank of China, the central bank.

Payment scenarios are all in place for venues in the Zhangjiakou competition zone in Hebei province. Other venues in Zhangjiakou have seen contracts for payment scenarios signed or related arrangements with merchants made.

Consumers can use the e-CNY either through wallet apps installed on their mobile phones or via physical wallets in the forms of cards and wearables such as smart watches, ski gloves or badges to meet their diversified needs.