China Expands Digital Yuan Pilot to National Free Trade Zones

China is accelerating the rollout of its central bank digital currency, with the People's Bank of China announcing plans to expand the Shanghai Free Trade Zone's digital yuan model nationwide. The MOVE signals growing institutional adoption of blockchain-based financial infrastructure.

PBOC officials revealed the expansion at the Lujiazui Forum, highlighting plans to deepen financial innovation across all 21 of China's free trade zones. These coastal economic hubs will serve as testing grounds for broader digital yuan integration, though a full national rollout timeline remains undisclosed.

The Shanghai model combines CBDC implementation with streamlined foreign investment procedures and regulatory sandboxes. This strategic expansion comes alongside nationwide optimizations to electronic payment systems, positioning China at the forefront of sovereign digital currency development.