The Chinese government is actively promoting the adoption of the digital yuan and utilizing the public sector to drive expansion of its use. With a steadily growing number of people receiving wages in digital yuan, adoption of China's CBDC has seen exponential growth. As of May 2021, e-CNY had been rolled out across multiple cities in China, from Xiangcheng District to Taicang City, where employees of government agencies have been the first to start receiving payments in the digital currency. This development helps in creating a foundation and encourages further adoption, with many now opening digital yuan wallets and actively participating in the digital economy.

It's not just the recipients of payments that are driving the uptake of digital yuan. The integration of China's two most popular digital wallet providers WeChat Pay and AliPay with the digital yuan is seen as another leap forward towards widespread adoption. Both wallets now offer users the option of digital yuan payments and this makes sending, receiving and spending payments as easy as ever. The ease of use and the low transaction fees could soon make digital yuan a preferred form of payment.

The public sector has been at the forefront of the transition to digital yuan payments, but the ultimate success for wider adoption lies in the hands of the private sector. Although the uptake has been steadily rising, the number of private businesses using the CBDC is still low. As more private vendors begin to accept the digital yuan and China's popular digital wallets allow more users to access it, it is likely that adoption of China's digital currency will become increasingly more common.



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