Postal Savings Bank of China tapped for development role in digital yuan payments


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The Postal Savings Bank of China has become one of the appointed research and development institutions for the electronic Chinese yuan (e-CNY), allowing the bank to hold a first-mover advantage in the competition for position in China’s electronic payments market, its owner, the state-owned China Post Group, said in an article . Fast facts - The bank is one of the six large state-owned banks designated for e-CNY development, alongside China Construction Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of Communications, and Bank of China. According to its [website] , the Postal Savings Bank focuses...