China is taking measures to promote the use of its own central bank digital currency, the digital yuan.
Changshu, a subordinate city to Suzhou in the eastern Jiangsu province, will pay civil servants and other state sector employees salary in digital yuan from May, state media Securities Times reported on Sunday.
China has been a leader among countries that are developing the CBDC - digital tokens issued by central banks, although adoption is still in the early stages. In contrast, the benchmark index slipped 0.4% amid lingering concerns over China's economic recovery. A person in a public school in Changshu said she had been receiving transport subsidy in e-CNY since October. Two other state sector employees in other parts of Suzhou said they had been receiving e-CNY as salary since last year.
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