Jiangsu provincial government has recently announced a work plan to promote the pilot program of digital yuan, China's digital fiat currency, or the e-CNY. 

The province will increase the digital yuan transactions, expand a wider range of scenarios innovatively, and also enhance the overall e-CNY ecosystem, according to the plan. 

By 2025, Jiangsu plans to build a sound operation and management system that provides convenient and efficient services and have extensive applications scenarios. Efforts will be made to meet diverse payment requirements and promote the use of digital yuan in wholesale, retail, catering, culture, tourism, education, healthcare and key areas in public services. Jiangsu aims to be a national frontrunner in key indicators measuring the e-CNY use.  

Suzhou is one of the first pilot cities of digital yuan in China and has made active efforts to promote its use. By the end of 2022, Suzhou’s digital yuan transactions amounted to 340 billion yuan with 30.54 million personal e-CNY wallets opened and 930,000 pilot scenarios available. Suzhou was also the first to provide e-CNY loans to small and micro enterprises following the approval of the People's Bank of China (PBOC), already issuing such loans of 18.7 billion yuan. 

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