Digital Yuan Volume in Circulating $2 Billion

The amount of digital yuan in circulation reached 13.61 billion yuan (about $2 billion) at the end of 2022, according to data from China’s central bank.

Including the digital currency, China’s M0 of cash in circulation reached 10.47 trillion yuan at the end of last year, up 15.3 percent year on year, according to the People’s Bank of China. As a legal means of payment in digital form, the digital yuan is a component of the Chinese currency, just like the physical renminbi.

The bank’s vice president, Xuan Changneng, said that in addition to combining statistics and analysis, the overall management of the two currencies should be implemented, China Radio International reported.

Xuan; He also noted that the management and calculation systems related to application scenarios, transaction value, and the amount of digital yuan have increased steadily in recent years.

“The inclusion of the digital yuan in the M0 will more accurately reflect the scale of the currency in circulation.”