A new phase in the testing of the digital renminbi has commenced, with cities around China now trialling its usage for the payment of taxes. Cities including Beijing, Shenzhen and Dalian have successfully launched trials for the use of the digital renminbi to pay taxes, marking an expansion from previous trials that focused upon use of the currency to make small-sum consumption payments. At the start of November Beijing launched trials for using the digital renminbi to pay taxes on the leasing of properties in the city’s Dongcheng district, with Industrial Commercial Bank of China and Shenzhou TECHO Telcom Co.,…