Does China have a Cbdc?

Does China indeed possess a Central Bank Digital Currency (CBDC)? This question has been circulating in the cryptocurrency and finance circles, gaining significant attention. Given the rapid advancements in digital technologies and the increasing demand for efficient and secure payment solutions, the possibility of a CBDC in China seems highly plausible. However, the official announcement or confirmation from the relevant authorities is still awaited. A CBDC, if implemented, would revolutionize the financial landscape, offering enhanced transaction speed, reduced costs, and greater convenience to the citizens. It would also provide the central bank with greater control and oversight of the monetary system. Therefore, the question remains: has China taken the leap into the digital currency era with its own CBDC?