Page 40 - Welcome to China

Living and Traveling
Convenient Payment Methods

MEDICAL

TREATMENT
Hongcun
Village
The Digital Yuan (e-CNY)

Foreign residents visiting China for a short period time may open a Digital Yuan wallet without
opening a bank account in mainland China to meet their day-to-day payment needs while in China.

The Digital Yuan (e-CNY) is a digital legal tender issued by the People’s Bank of China, which has the
same legal eect as the physical, cash form of the Chinese Yuan. Currently, e-CNY is in the pilot testing
stage and has not yet been ocially launched. The pilot test zones for the Digital Yuan include
Shenzhen, Suzhou, Xiong’an New District, Chengdu, Shanghai, Hainan, Changsha, Xi’an, Qingdao,
Dalian, Tianjin, Chongqing, Guangzhou, Fuzhou, Xiamen, Hangzhou, Ningbo, Wenzhou, Huzhou,
Shaoxing and Jinhua.
The Digital Yuan may only be used in pilot zones for now. Users may register an account in the Digital
Yuan mobile App, and log on to the App, using a domestic mobile number. Foreign citizens who have
a mobile line with any the three major domestic telecommunications operators may register and use
the Digital Yuan App but only for the purposes of payments and transfers.
The Digital Yuan app can also be linked to the digital wallets of the following: Industrial and Commer-
cial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Postal Savings
Bank of China, China Merchants Bank, WeBank, Bank of Communications and Internet Banking. The
Digital Yuan app currently supports [the use of funding sources from] 33 domestic banks. Overseas
bank cards are currently not supported at the moment.
To use the Digital Yuan, rst exchange for some Digital Yuan within the app using a linked bank card.
The e-CNY can then be used with the various merchants in pilot zones that support the Digital Yuan by
either scanning or presenting a QR code for payment.
The digital RMB has a variety of dierent forms of chip wallet products such as visual chip wallet,
special-shaped wallet and wearable wallet to meet the payment needs for dierent types of people
and applications in dierent scenarios. The user can hold a card to touch in the terminals and complete
the payment to disengage to mobile-phone payment. For foreigners with currency exchange needs,
the card also has more functions. Users can exchange foreign currency cash into equivalent digital
RMB on the digital version foreign currency exchange machine based on the real-time exchange rate,
only holding passports without registering and binding any bank account.

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