Shaoxing company pays electricity bill with digital renminbi
Xinda Electronic Co Ltd in Shaoxing, Zhejiang province, joined the digital renminbi, or e-CNY, trials in China on April 11.
A staff member of the center's construction team had on this day used an e-CNY account to pay 413.47 yuan ($64.46) in electricity fees to the State Grid. This was the first electricity bill paid using e-CNY in Shaoxing.
The e-CNY payment has freed users from paying the extra service charges levied by payment apps such as WeChat and Alipay. It is also quicker for suppliers to collect fees, according to a staff member of the Shaoxing branch of the State Grid.
China has steadily advanced e-CNY research and development in recent years.
The outlines of the 14th Five-Year Plan (2021-25) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035 have included that task, and more than 10 provincial regions have declared their ambition to pilot digital renminbi services.
The People's Bank of China, the nation's central bank, on April 2 released the list of new regions taking part in the e-CNY trials.
Among them are the six Chinese cities -- Hangzhou, Ningbo, Wenzhou, Huzhou, Shaoxing and Jinhua.