Chinese Charities Accepting Digital Yuan Donations – More CBDC Firsts to Come?

Chinese charities are now accepting digital yuan donations, with the nation’s CBDC also breaking new ground in the world of corporate loans.

Per the media outlet WXRB, the coastal province of Jiangsu has welcomed its first “online corporate and personal digital yuan donations platform.”

At a ceremony held earlier this week, the state-run commercial bank the Agricultural Bank of China made a CBDC donation to the Wuxi Charity Federation.

The federation provides support for local welfare projects.

These include education and healthcare support.

The Agricultural Bank “directly donated” just over $21,000 in digital yuan to “Golden Key,” the federation’s scholarship project.

Chinese CBDC: Charity and Corporate Loan Firsts

Meanwhile, the city of Chongqing is also marking digital yuan firsts in the corporate space.

The Chongqing Daily (via Sina) reported that another state-owned commercial bank, the Bank of China, issued the city’s first digital yuan corporate loan.

The recipient was an IT-focused firm named Development Co. (literal translation).

The bank lent the firm around $3.4 million worth of the CBDC.