China added the ability to pay taxes using the digital yuan
According to the local media, the payment process is “no different from Alipay or WeChat Pay”
27.04.2022 - 11:25
309
1 min
0
According to the local media, the payment process is “no different from Alipay or WeChat Pay.”
What’s new? Six Chinese cities in Zhejiang province have begun to test paying taxes using the digital yuan. According to a report by the local news agency China News, residents in the province can pay income tax, property tax and make social security contributions through e-CNY. In addition, the government has connected 72 toll road collection points to the test program, which have already started accepting the digital yuan. According to China News, the payment process is “no different from Alipay or WeChat Pay.”
What had happened before? In early April, China launched the second phase of testing the e-CNY. The government expanded the list of cities that participate in the program. The digital yuan became available in the cities of Tianjin, Xiamen, and Chongqing, as well as the provinces of Guangdong, Fujian, and Zhejiang.
The authorities noted that the first phase of testing, which took place at the Winter Olympics, was successful. On the opening day of the Games, the digital yuan surpassed Visa in the number of transactions.
What is the digital yuan? China’s central bank digital currency, the digital yuan or e-CNY, began testing in Shenzhen in October 2020. By the end of 2021, the total volume of transactions with the Chinese digital currency reached $11,24 billion.
Useful material?
Market
According to the founder of TRON, the leading US crypto exchange asked for several hundred million dollars for the listing of TRX
Nov 4, 2024
Incidents
The company conducted fictitious trading for six years to inflate the trading volume of tokens of several companies, receiving payment for these services
Nov 1, 2024
Market
1,5 million addresses have already left applications
Oct 31, 2024
Business
The company began investing in bitcoin in 2020, and since then, the value of its securities has risen by 1700%
Oct 30, 2024
Mining
The Deputy Energy Minister explained that in deficit regions, it is impossible to allocate large capacities for industry enterprises until 2030
Oct 30, 2024
Market
Customers will also be able to withdraw funds to bank accounts using cards
Oct 30, 2024