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China introduces digital Yuan in real estate sector

April 1, 2022
Source: aninews.in aninews.in
News Snapshot:
Beijing [China], April 1 (ANI): China has introduced the use of digital Yuan in the real estate sector with payments worth around USD 87,000 for 3 construction projects. The payments were made through the digital wallets of the Industrial & Commercial Bank of China and China Construction Bank, reported local media. The move comes after China witnessed a decline in the real estate boom. Real estate giant Evergrande is finding it difficult to pay its debts in the face of government policies designed to curb the boom. The increased use of the digital Yuan in the real sector is likely...
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Tags: Asian Games | bank | Bank of China | Beijing | China | China Construction Bank | Chinese | construction | crypto | currency | data | digital | dining | E-CNY | Evergrande | fintech | fund | Hangzhou | Hong Kong | Olympics | real estate | Renminbi | sports | Yuan | Zhejiang

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