China to launch digital currency pilot program in some cities: MOFCOM

SHANGHAI (Reuters) - China’s commerce ministry said on Friday it will launch a digital currency pilot program in some cities.

These cities include those in the northern Chinese region of Beijing-Tianjin-Hebei, eastern region of Yangtze River Delta, “Greater Bay Area” around the Pearl River Delta, and some cities in Midwestern China, according to an online statement.

Earlier this month, state-run media reported that China’s major state-run commercial banks were conducting large-scale internal testing of a digital wallet application, moving a step closer to the official launch of a home-grown digital currency.

Reporting by Beijing Monitoring Desk and Winni Zhou; Editing by Muralikumar Anantharaman