The Chinese city of Changshu said that starting May 2023, all civil servants under its jurisdiction will be paid full salaries in digital yuan, according to local reports.
According to a notice issued by the city's financial department, civil servants, including civil servants, public institutions and state-owned units at all levels, will be compensated in digital yuan On-site staff at a local hospital reportedly confirmed that starting next month, Employees will receive payments in digital yuan. In addition, the reporter learned that employees can choose to conduct digital RMB settlement through self-service terminals.
On Feb. 6, multiple Chinese city governments gave away more than 180 million yuan ($26.5 million) worth of central bank digital currency (CBDC) during Lunar New Year celebrations to boost adoption. Jiangsu province, where Changshu is located, previously a digital launch Yuan pilot program in the first quarter of 2023. According to local reports, the goal is to establish an efficient and convenient operation and management system by 2025.
The Chinese government's efforts to promote the adoption of a CBDC have not been welcomed by Hong Kong residents. In the first four days of the hard launch of the digital yuan wallet, only 625 residents registered. Despite a 20% discount on purchases from 1,400 local Providers a government subsidy for CBDC holders the lack of adoption is glaring.
