Changshu, a Chinese city, has informed that all civil servants concerning its jurisdiction will be given their entire salaries through digital yuan beginning from May, 2023, as stated by Cointelegraph.
According to Cointelegraph, salaries to be paid will include civil servants from public service, public institutions and state-owned units. It’s believed that reporters were informed that employees go for digital yuan settlements using self-service terminals.
Based on information by Cointelegraph, on February 6, 2023, Chinese city governments distributed 180 million yuan worth of central bank digital currency (CBDC) at the time of Lunar New Year celebrations to back adoption.
Moreover, Cointelegraph noted that Changshu’s Jiangsu province tried implementing a digital yuan’s pilot program during Q1, 2023. However, the Chinese government’s aim for CBDC implementation hasn’t been backed by Hong Kong residents.
(With insights from Cointelegraph)
