Local administrators are required to meet a collective KPI of $300 billion e-CNY transactions by city residents this year through promotional efforts.
the trial of the digital yuan central bank digital currency was attended by senior Communist Party officials in the City of Suzhou. As part of the meeting outcomes, party officials have set a tentative key performance indicator of 2 trillion CNY for e-CNY CBDC transactions in the city by the end of 2023 to be implemented by municipal administrators through promotional efforts.
Officials have also set a target of processing $30 billion in e-CNY loans for small and mid-sized businesses in Suzhou by the end of the year. In 2022, e-CNY transactions in the city surpassed 340 billion CNY at 930,000 local businesses and government offices, with over 30.54 million digital wallet downloads. Total financial incentives related to the e-CNY amounted to 40 billion CNY , while 18.7 billion in e-CNY loans were issued.
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