The digital renminbi operating institutions are expected to expand, with multiple joint-stock banks and city commercial banks potentially qualifying.

It has been learned through related channels that the digital renminbi business operation institutions are expected to expand, with 12 commercial banks possibly qualifying, which will connect to the central bank’s digital renminbi system. “We have received relevant notices and requirements from the authorities, and we need to complete system development, joint debugging, testing, acceptance, commissioning, and customer onboarding as scheduled,” confirmed an official from a city commercial bank. The list of potential expansion includes: CITIC Bank, China Everbright Bank, Huaxia Bank, Minsheng Bank, China Guangfa Bank, Shanghai Pudong Development Bank, and Zhejiang Commercial Bank—these seven national joint-stock banks; as well as Ningbo Bank, Jiangsu Bank, Bank of Beijing, Nanjing Bank, and Suzhou Bank—these five regional city commercial banks. (Shanghai Securities News)

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