PBOC Plans Steady Digital‑Yuan Development Over the Next Five Years

TL;DR

• The PBOC published its 2026-2030 five-year plan and included the digital yuan among its core tasks for the next five years.
• China has allowed commercial banks to pay interest on e-CNY balances and is advancing cross-border tests with Singapore and mBridge.
• The mBridge project recorded a 176% year-over-year jump in corporate clients and moved 500 million yuan in a single equity transaction.

The People’s Bank of China (PBOC) formally established the development of the digital yuan as a strategic state priority in its reform plan known as the “fifteenth five-year plan” for the 2026-2030 period, accompanied by nine sectoral action plans. The e-CNY was included under the fifth axis of the roadmap, dedicated to financial infrastructure and central bank services, alongside improvements in payment systems, development of the credit reporting sector, and strengthening of anti-money laundering standards.

The plan also dedicates a specific section to the international sector, where the PBOC commits to expanding the use of the renminbi in trade and investment, broadening the cross-border payments network and developing offshore RMB markets, while consolidating Shanghai as a global financial hub and reinforcing Hong Kong’s positioning.

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