# China international yuan promotion and digital expansion

> Live situation record from CLSTR: https://clstr.news/situations/china-international-yuan-promotion-and-digital-expansion
> Updated: 2026-08-16T16:00:00.000Z. Sources: 9. Developments: 2.

China continues to promote the renminbi (yuan) as a global alternative to the US dollar to reduce reliance on the American-led financial system. Building on its strategy of expanding the digital yuan (e-CNY) network, the People’s Bank of China (PBOC) has recently authorized eight additional commercial banks—including Ping An Bank, Bank of Shanghai, and Bank of Hangzhou—to operate within the system. This expansion brings the total number of authorized operators to 30.

The expansion aims to increase inclusivity and accessibility for regional economies and small to medium-sized enterprises. In terms of international utility, Stanbic Bank Uganda has become the first financial institution in Uganda to integrate with China’s Cross-border Interbank Payment System (CIPS), enabling Ugandan businesses to make direct yuan payments to reduce costs and volatility.

Other developments in the e-CNY ecosystem include the PBOC reclassifying verified e-CNY wallet balances as interest-bearing deposits as of January 1, 2026. Cumulative transaction volumes for the digital currency reached 16.7 trillion yuan by late November 2025.

## Claims

- The PBOC added eight banks to the authorized digital yuan operator list. (disputed by 3 sources)
- The PBOC added 12 new banks to the digital yuan roster in April 2026. (disputed)
- The total number of institutions authorized to operate with the digital yuan has increased to 30. (corroborated by 3 sources)
- Newly authorized banks include Ping An Bank, Hengfeng Bank, and China Bohai Bank. (corroborated by 3 sources)
- The expansion aims to increase the inclusivity and accessibility of digital yuan services. (corroborated by 3 sources)
- Authorized banks will begin offering digital yuan services after completing technical and operational preparations. (corroborated by 3 sources)
- As of January 1, 2026, verified e-CNY wallet balances are classified as interest-bearing deposits. (single source)
- Cumulative e-CNY transaction volumes reached 16.7 trillion yuan by late November 2025. (single source)

## Timeline

### 2026-08-16: China expands digital yuan network with eight new authorized banks

China's central bank has added eight new banks to its digital yuan network, bringing the total number of authorized operators to 30 to improve service inclusivity and reach.

9 sources. https://clstr.news/cluster/china-expands-digital-yuan-network-for-cross-border-trade

### 2026-07-23: China pushes yuan as global alternative to the US dollar

China is ramping up efforts to make the yuan a global reserve currency, launching a digital‑yuan hub in Shanghai and urging trade partners to use yuan instead of the US dollar.

6 sources. https://clstr.news/cluster/polish-zloty-strengthens-on-strong-retail-sales-ahead-of-ecb-decision

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Cite as: China international yuan promotion and digital expansion. CLSTR, https://clstr.news/situations/china-international-yuan-promotion-and-digital-expansion