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Digital Yuan Gains Interest, But Beijing's Interest Lags

2/10/2026

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Summary

Story summary

The People's Bank of China upgraded the digital yuan to 'digital deposit money' over a month ago, allowing it to earn interest.
Despite digital yuan signs, Beijing residents show little interest as WeChat Pay and Alipay dominate and incentives fail.
An employee at a state-owned bank said they only use digital yuan to receive payments, not for transactions, while the Communist Party pursues development under its five-year socio-economic plan.

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Story summary

The People's Bank of China upgraded the digital yuan to 'digital deposit money' over a month ago, allowing it to earn interest.
Despite digital yuan signs, Beijing residents show little interest as WeChat Pay and Alipay dominate and incentives fail.
An employee at a state-owned bank said they only use digital yuan to receive payments, not for transactions, while the Communist Party pursues development under its five-year socio-economic plan.