The Civil Aviation Administration and the Commercial Bank of China said that passengers can use the central bank digital currency to access the new services.
A pilot program has been launched for the digital yuan, China’s central bank digital currency. Airline tickets can now be paid for using digital Yuan. The newly introduced platform reportedly allows companies and entrepreneurs to use the digital yuan for convenient payment of commercial airline tickets. Additionally, passengers will have the opportunity to use digital yuan to access new services through the platform.
China steps up its work towards CBDC
Increasing its activities on the central bank digital currency (CBDC), China has recently integrated this issue into the air travel industry. According to a local media report, a collaboration between China Merchants Bank and the Civil Aviation Administration of China paved the way for the introduction of a digital yuan platform aimed at facilitating transactions for passengers on the aviation network.
At the launch event celebrating the official launch of the platform on July 18, the Civil Aviation Administration and China Merchants Bank called for more use cases for the CBDC. They said they will cooperate to explore the application of the digital yuan in various fields of the civil aviation industry.
According to some published reports, the country’s central bank, the People’s Bank of China, is actively promoting the use of the digital yuan in China’s transportation network. In particular, Beijing Daxing International Airport and Beijing Capital International Airport attracted attention with their digital yuan-based initiatives in 2022.
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