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JD.com & Bank of China Join Mainland China-Hong Kong Digital Yuan Pilot

Major business players are joining the Hong Kong-Mainland China “cross-border” digital yuan pilot – including the e-commerce giant JD.com and the Bank of China.

The Bank of China is one of Mainland China’s largest state-run commercial banks, while JD.com is arguably the nation’s answer to Amazon.

The pilot will involve the JD subsidiaries JD Technology and JD Global Sales. The former deals with IT projects, while the latter processes transactions and sales for locations outside the Mainland.

Per CICC Online, the move will make JD the first major Mainland-based company to support cross-border digital yuan trade.

(By Tim Alper)

CBDCs China Hong Kong
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