China’s central bank has added eight commercial banks to its digital yuan network, expanding the total number of official e-CNY operating institutions to 30. According to a Xinhua report published Monday on the Chinese government website, the People’s Bank of China (PBOC) approved Ping An Bank, Hengfeng Bank, China Bohai Bank, Bank of Shanghai, Bank of Hangzhou, Huishang Bank, Bank of Changsha, and Guangxi Beibu Gulf Bank to join the system.
The newly authorized lenders will begin offering e-CNY services after completing operational and technical preparations to integrate with the PBOC’s central digital currency infrastructure.
The decision follows a major expansion in April 2026, when 12 city commercial banks joined the operator network. Prior to 2026, the PBOC maintained a tight group of only 10 authorized operating institutions, with Industrial Bank being the last addition in 2022.
Industry analysts noted that integrating regional and joint-stock banks helps address service gaps for small and medium-sized enterprises (SMEs) while broadening digital yuan adoption in localized supply chains and cross-border trade operations.
The PBOC initiated central bank digital currency (CBDC) research in 2014 and launched initial pilot programs in late 2019. Since then, China has steadily expanded e-CNY utility across retail payments, public utilities, transit networks, and government administrative services. The PBOC stated it will continue gradually expanding the operator network to foster market competition, enhance ecosystem resilience, and broaden financial inclusion nationwide.
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