Digital Yuan

The Digital Yuan is China's digital version of its national currency, the Yuan. Introduced by the People's Bank of China, it aims to modernize the financial system and increase the efficiency of transactions. Unlike cryptocurrencies, it is a central bank digital currency (CBDC), meaning it is regulated by the government. Users can hold and spend Digital Yuan through digital wallets, making transactions faster and more secure. The initiative also seeks to enhance financial inclusion, reduce cash usage, and boost the country's global influence in economic matters.