The People's Bank of China has added 12 new digital yuan business operation institutions.

To implement the decision and deployment in the “15th Five-Year Plan” outline regarding the “steady development of the digital renminbi,” further enhance the inclusiveness of digital renminbi services, and continuously respond to the public’s demand for safe, convenient, and efficient digital renminbi services, the People’s Bank of China has added CITIC Bank, China Everbright Bank, Huaxia Bank, China Minsheng Bank, Guangfa Bank, Shanghai Pudong Development Bank, Zheshang Bank, Bank of Ningbo, Jiangsu Bank, Bank of Beijing, Nanjing Bank, and Suzhou Bank as banking-type digital renminbi business operational institutions, and connected them to the central bank’s digital renminbi system. The newly added institutions will carry out digital renminbi business after completing business and technical preparations. Next, the People’s Bank of China will, in an orderly manner, expand the number of operational institutions in accordance with market-based and rule-of-law principles, further stimulate the initiative and creativity of market participants, and build a development environment for the digital renminbi characterized by openness and inclusiveness and fair competition.(Central Bank)