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E-CNY certain to promote renminbi s internationalization By CHEN JIA | China Daily | Updated: 2021-07-29 09:18 Share CLOSE E-CNY is promoted during an expo in Dalian, Liaoning province. [Photo by Lyu Wenzheng/For China Daily] E-CNY, the digital currency of China s central bank that is in the works, will further promote the process of renminbi internationalization once the RMB becomes the world s third-largest currency in terms of pricing, settlement and international reserves, experts said on Wednesday. E-CNY, or the digital RMB, is currently undergoing tests through trials. Cross-border e-commerce payments could be the next key scenario for e-CNY use because it is natural and particularly easy to accept , said Tu Yonghong, deputy director of the International Monetary Institute (IMI), which is part of the Renmin University of China.

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