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Al Jazeera

Business

Sherry Fei Ju

At Winter Olympics, Beijing tries to sell world on digital yuan

Beijing China Winter Olympics Olympics Al Jazeera

China is using the Beijing Winter Olympics as a showcase for its official virtual currency [File: Aly Song/Reuters]

Beijing, China – In December 2020, Shen Xue, retired Chinese pair skater and 2010 Olympic champion, appeared on Chinese television as the first person to use the country’s official digital currency to buy a Beijing Subway pass.

With a swipe on the turnstile using ski gloves fitted with the latest digital yuan wallet, Shen marked the launch of China’s campaign to promote its central bank digital currencies overseas during the 2022 Beijing Winter Olympics.

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