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The People’s Bank of China has added eight banks to its digital yuan network, increasing the number of authorized e-CNY operating institutions to 30. The expansion follows Beijing’s pledge to “steadily develop” the digital yuan under its 15th Five-Year Plan covering 2026 through 2030.
The new operators are Ping An Bank, Hengfeng Bank, China Bohai Bank, Bank of Shanghai, Bank of Hangzhou, Huishang Bank, Bank of Changsha and Guangxi Beibu Gulf Bank. They will join the central bank’s digital yuan operating network after completing required technical and operational preparations.
Eight Banks Join Digital Yuan Network
The latest expansion follows an April addition of 12 institutions, which brought the PBOC’s listed e-CNY operators to 22. That group included China CITIC Bank, China Everbright Bank, Shanghai Pudong Development Bank and several city commercial banks.
Operating institutions form the commercial-bank layer of China’s digital yuan system, providing services such as wallets, conversion, and payment infrastructure while connecting with the central bank’s e-CNY platform. The PBOC said further expansion will follow market-oriented and rule-of-law principles. The central bank said:
“We aim to build an open, inclusive and fair competition environment for the development of the digital yuan.”
Expansion Follows Five-Year Policy Push
China’s national 15th Five-Year Plan explicitly calls for the country to steadily develop the digital yuan. The PBOC followed with its own reform and development plan on August 10, covering priorities for the central bank through 2030.
The wider operator network comes as authorities seek to increase e-CNY use in both domestic and cross-border payments. China has tested the currency in areas including retail spending, public services, fiscal payments and international settlement.
Digital Yuan Infrastructure Continues to Expand
The PBOC has made various changes to the digital yuan framework in 2026. Interest can now be paid on qualifying e-CNY balances, while the number of participating banks has tripled from 10 to 30 this year.
Cumulative digital yuan transactions had reached 16.7 trillion yuan by November 2025. The addition of more banking operators broadens the institutions able to provide e-CNY services as China pursues wider adoption under its current five-year plan.
