Chinese universities in Jiangsu to issue salaries via digital yuan

Several universities in Jiangsu province, including Yangzhou University, Nantong University, and Jiangsu Normal University, have issued notices regarding the transition to digital yuan (e-CNY) for salary payments. Following directives from the Jiangsu Provincial Department of Finance, these institutions plan to distribute wages to staff and personnel agents through digital yuan wallets starting in November 2026.

At Yangzhou University, employees have been instructed to open or upgrade their digital yuan wallets to facilitate this transition. Nantong University has implemented a similar requirement, noting that salaries and performance bonuses will be distributed via two separate digital wallets. Currently, foreign staff are unable to open these wallets and are not required to participate.

The move follows broader pilot programs by the People's Bank of China. Recent data indicates that the digital yuan has processed 3.48 billion transactions totaling 16.7 trillion yuan, with 230 million individual wallets established. While the central bank views the digital yuan as a tool for modernizing the monetary framework, the shift has prompted public debate regarding transaction privacy and the traceability of digital assets.