CHINESE BUSINESS TRAVELERS COMMENCE FLIGHT BOOKING WITH DIGITAL YUAN

The recently unveiled central bank digital currency (CBDC), otherwise known as digital yuan, by China is simplifying transactions for travelers within the aviation network.

 

Sequel to a combined effort of China Merchants Bank and the Civil Aviation Administration of China, Chinese business travelers have started using the CBDC to pay for flight tickets.

 

Additionally, corporate bodies and entrepreneurs can now effortlessly use the digital yuan to make payments for business air tickets whereas passengers can access new services through the platform.

 

The Civil Aviation Administration and China Merchants Bank celebrated the official launch of the platform on July 18, 2023.

 

The two institutions called for more innovative applications of the CBDC within the civil aviation industry.

 

The People’s Bank of China has been actively promoting the use of the digital yuan in the country’s transportation network.

 

As the digital yuan pilot program gain momentum, more sectors are likely to embrace the CBDC.

 

This will go further in cementing China’s position as a leader in the digital currency space.