Central Bank Report: The scale of digital payments continues to expand, and the pilot scenarios for the digital yuan are being steadily expanded

Chain Catcher News, the People's Bank of China released the Analysis Report on China's Inclusive Finance Indicators (2021). The central bank stated that the response to the pandemic and technological advancements continue to drive the in-depth development of digital inclusive finance. Digitalization has become an important direction for the transformation and development of financial institutions. The application of digital technology promotes the continuous expansion of the scope of financial services, the scale of digital payments continues to grow, and the rapid increase in internet working capital loans for small and micro enterprises. The pilot scenarios for the digital renminbi are steadily expanding, and the ecosystem of digital inclusive finance is continuously enriching. (Source link)