As the “New Type Infrastructure” of the digital economy age, digital renminbi is a booster to accelerate digitalized development and Build Digital China.

作为数字经济时代的“新基建”,数字人民币是加快数字化发展,建设数字中国的助推器。

Fujian Daily, “Fuzhou and Xiamen Selected for Digital Renminbi Pilots!,” April 8, 2022

Note: Fujian Daily used the standard abbreviation for “New Type Infrastructure” (NTI) to describe the digital renminbi, apparently based on its interviews with Chinese experts on central bank digital currencies. This remains a rare media reference, not confirmed officially elsewhere, nor was the digital yuan included as part of the April 2020 National Development and Reform Commission’s (NDRC) official NTI designations.  All of this said, it is an NTI reference worth monitoring going forward.

On April 2, 2022, the People’s Bank of China announced the 11 cities making up the third batch of digital renminbi pilots, and Fuzhou and Xiamen were selected. A reporter from Fujian Daily surveyed experts to answer the questions: “What impact will this new payment method have on the daily payment activities of ordinary people?” and “What are the positive impacts on economic and social development?

The reporter immediately searched for and downloaded the “Digital RMB (Pilot Version) APP” from the mobile app store and registered and opened a digital wallet in less than a minute. During this process, the system prompts the registrant to turn on the location of the mobile phone to confirm whether it is in the pilot zone. After adding funds to your digital wallet via mobile banking or a bank card, online or offline purchases can be made.