{"id":37932,"date":"2023-07-19T21:34:28","date_gmt":"2023-07-20T01:34:28","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/business-travelers-buy-tickets-with-digital-yuan\/"},"modified":"2023-07-19T21:34:30","modified_gmt":"2023-07-20T01:34:30","slug":"business-travelers-buy-tickets-with-digital-yuan","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=37932","title":{"rendered":"Business Travelers Buy Tickets with Digital Yuan"},"content":{"rendered":"
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Chinese business travelers will be able to buy air tickets using the digital yuan, as the nation\u2019s central bank digital currency (CBDC) pilot takes flight.<\/p>\n

Per the China Civil Aviation Network, the commercial banking firm China Merchants Bank has co-launched an e-CNY platform with the Civil Aviation Administration Clearing Center.<\/p>\n

The platform will allow companies and entrepreneurs to \u201cuse the digital [yuan]\u201d to pay for \u201cbusiness air tickets.\u201d<\/p>\n

And it will also allow business passengers to use the token to pay for \u201cnew services\u201d via the platform.<\/p>\n

The travel firm Suzhou China Travel Service used the platform to purchase tickets on behalf of its clients.<\/p>\n

An official launching ceremony for the platform was held this week.<\/p>\n

The Civil Aviation Administration and China Merchants Bank said they would follow up by \u201ccontinuing to provide more efficient, high-quality services to more business travelers.\u201d<\/p>\n

And they pledged to \u201cjointly explore the application of the digital yuan\u201d in other sectors of the civil aviation industry.<\/p>\n

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The central People\u2019s Bank of China (PBoC) has been keen to expand the use of the digital yuan in the country\u2019s transport network.<\/p>\n

In 2022, the capital\u2019s Beijing Daxing International Airport and Beijing Capital International Airport announced they were working on a cargo-related digital yuan-powered initiative.<\/p>\n

Some airports in the pilot zone have also begun allowing transit passengers to pay for goods and services using the e-CNY.<\/p>\n

Railway networks, light rail connections, and metro systems across the pilot zone have been upgraded to accept power- and network-free digital yuan payments.<\/p>\n

Bus routes across the zone have also begun accepting CBDC-paying passengers.<\/p>\n

Earlier this year, several highway toll booths around the pilot zone started accepting digital yuan payments.<\/p>\n

This week, the city of Shenzhen claimed its residents have thus far opened almost 36 million digital yuan wallets, with over 7 million opened since the start of the year.<\/p>\n

And the city of Changzhou has announced a $700,000 CBDC token and coupon giveaway as Chinese regions attempt to spur adoption.<\/p>\n<\/p><\/div>\n