Status
PILOT
China
China e-CNY (Digital Yuan)
According to People's Bank of China disclosures and linked sources, this profile records status, architecture, and capability fields for China e-CNY (Digital Yuan).
Program Snapshot
Current status fields and timeline data from the profile record.
Type
WHOLESALE
Program classification
Wallets
230,000,000
As of 2025-11-30
Annual Volume
$2.3T
high confidence
Status and Timeline
| Field | Value |
|---|---|
| Announced | 2019-08-01 |
| Pilot start | 2020-04-20 |
| Launch | Not listed |
| Last verified | 2026-02-17 |
Availability
- Retail
- pilot
- Wholesale
- pilot
Central Bank
People's Bank of China
Technical Profile
| Attribute | Value |
|---|---|
| Type | Wholesale |
| Architecture | two-tier |
| Access model | account based |
| Technology base | dlt |
| Legal tender | pilot only |
Capabilities
offline payments: Yes
programmability: Yes
cross border: Yes
interest bearing: No
transaction limits: Yes
Cross-Border Projects
mBridge
Role: leader
Recent Updates
According to the People's Bank of China (PBOC), as of end-November 2025, the e-CNY pilot has processed 3.48 billion cumulative transactions with total volume of 16.7 trillion yuan (approximately US$2.3-2.4 trillion). The pilot supports 230 million personal wallets and 18.84 million corporate wallets via the e-CNY App, covering 26 localities across 17 provincial-level regions. On Project mBridge, e-CNY accounts for 95.3% of the platform's $55.49 billion cumulative transaction volume as of November 2025, with 4,047 cross-border transactions. On December 29, 2025, PBOC announced a new framework effective January 1, 2026, transitioning e-CNY from a digital cash model to a digital deposit money model as an account-based payment instrument. Retail cross-border testing includes Hong Kong, Macau, Laos, Thailand, Cambodia, and Singapore for tourism payments.
Updated: Feb 17, 2026
Frequently Asked Questions
Does China have a CBDC?
According to listed sources, China is developing China e-CNY (Digital Yuan), currently in pilot phase.
What is the current status of China's CBDC?
China e-CNY (Digital Yuan) is in pilot phase as of 2026-02-17.
When did China start CBDC pilot activity?
Pilot activity is listed from 2020-04-20.
How many users or wallets are reported for China's CBDC?
As of 2025-11-30, China e-CNY (Digital Yuan) reports 230,000,000 wallets.
Is China's CBDC retail, wholesale, or hybrid?
China e-CNY (Digital Yuan) is categorized as wholesale.
Which institution manages China e-CNY (Digital Yuan)?
China e-CNY (Digital Yuan) is managed by People's Bank of China.
Related CBDCs
Sources
Sources
Last verified: 2026-02-17
People's Bank of China
central bank
Pan Gongsheng: Remarks at 2025 China (Beijing) Digital Finance Forum
central bank
What to watch as China prepares its digital yuan for prime time - Atlantic Council
news
e-CNY Pilot Statistics - State Council of China
central bank
New e-CNY Framework to Take Effect January 1, 2026 - China Daily
news