<![CDATA[<figure class="image"><img alt="Downtown Shenzhen, China." src="https://cimg.co/news/126262/333427/adobestock-639199774.jpeg" srcset="" width="" class="content-img"><figcaption>Source: zhao dongfang/Adobe</figcaption></figure>A group of <a href="https://cryptonews.com/tags/china">Chinese</a> firms will move into a <a href="https://cryptonews.com/tags/CBDC">CBDC</a>-themed &ldquo;<a href="https://cryptonews.com/tags/digital-yuan">digital yuan</a> industrial park.&rdquo;Per the <a href="https://news.cnstock.com/news,bwkx-202310-5133102.htm" rel="nofollow">Shanghai Securities News</a> and the <a href="http://www.stcn.com/article/detail/1000999.html" rel="nofollow">Securities Times</a>, the Southeastern city of Shenzhen held an &ldquo;official launching ceremony&rdquo; for its &ldquo;first digital yuan industrial park&rdquo; on the morning of October 11.The ceremony was held at Shenzhen&rsquo;s new Luohu Digital Yuan Application Demonstration Center, where nine companies signed &ldquo;moving-in&rdquo; agreements.The group was described as the &ldquo;first batch&rdquo; of firms to move into the park, with more reportedly set to follow in the months ahead.The center will be used to promote CBDC adoption efforts.<figure class="image"><img alt="Representatives from nine Chinese firms sign &ldquo;moving-in&rdquo; contracts as they prepare to relocate to a dedicated &ldquo;digital yuan industrial park.&rdquo;" src="https://cimg.co/news/126262/333424/signing.jpg" srcset="https://cimg.co/news/126262/333424/responsive-images/signing___media_library_original_1486_730.jpg 1486w, https://cimg.co/news/126262/333424/responsive-images/signing___media_library_original_1200_590.jpg 1200w, https://cimg.co/news/126262/333424/responsive-images/signing___media_library_original_900_442.jpg 900w, https://cimg.co/news/126262/333424/responsive-images/signing___media_library_original_720_354.jpg 720w, https://cimg.co/news/126262/333424/responsive-images/signing___media_library_original_600_295.jpg 600w, https://cimg.co/news/126262/333424/responsive-images/signing___media_library_original_300_147.jpg 300w" width="1486" class="content-img"><figcaption>Representatives from nine Chinese firms sign &ldquo;moving-in&rdquo; contracts as they prepare to relocate to a dedicated &ldquo;digital yuan industrial park.&rdquo; (Source: <a href="https://weibo.com/2550216490/Nnmgfw5Ay" rel="nofollow">MyPayPass/Weibo</a>)</figcaption></figure><h2 id="china-shenzhens-digital-yuan-industrial-park-plans">China: Shenzhen&rsquo;s Digital Yuan Industrial Park Plans</h2>Shu Yumin, the Communist Party Secretary of the Shenzhen Financial Supervision Bureau, said the project would &ldquo;help promote the further improvement and expansion&rdquo; of the e-CNY pilot work.Shu claimed the advance would also &ldquo;help Shenzhen become a &ldquo;global financial technology center.&rdquo;The park&rsquo;s firms will be commissioned to work on CBDC adoption innovations.The Shenzhen branches of the nation&rsquo;s four biggest state-run banks will also work on industrial park-related developments.Shenzhen is a notable IT hub and has <a href="https://cryptonews.com/news/shenzhen-china-36m-digital-yuan-wallets-opened-so-far-cbdc-pilot-gathers-pace.htm">been at the heart of the digital yuan pilot</a> since 2020.The list of companies moving to the park includes Hengbao, a SIM and smartcard maker.Another of the firms is Tianyu Information, an AI, POS terminal, and blockchain specialist.Also moving to the park will be Lakala, a payments firm that works with major retailers.&ldquo;Many other&rdquo; stock market-listed companies were also among the &ldquo;first batch&rdquo; of firms moving to the park, including security providers and cloud computing specialists.<figure class="image"><img src="https://cimg.co/news/126262/333423/ecny-1110-1.jpg" alt="Staff from the Wuxi branch of the Shanghai Pudong Development Bank explain digital yuan functions to schoolchildren." srcset="https://cimg.co/news/126262/333423/responsive-images/ecny-1110-1___media_library_original_606_339.jpg 606w, https://cimg.co/news/126262/333423/responsive-images/ecny-1110-1___media_library_original_600_336.jpg 600w, https://cimg.co/news/126262/333423/responsive-images/ecny-1110-1___media_library_original_300_168.jpg 300w" width="606" class="content-img"><figcaption>Staff from the Wuxi branch of the Shanghai Pudong Development Bank explain digital yuan functions to schoolchildren. (Source: <a href="https://weibo.com/5243157608/Nnfgg6lyP" rel="nofollow">yangli20067/Weibo</a>)</figcaption></figure>Earlier this week, the city of Sanya <a href="https://cryptonews.com/news/rise-chinese-banks-issuing-digital-yuan-corporate-loans.htm">welcomed its first corporate digital yuan loan deal.</a>And a <a href="https://cryptonews.com/news/china-says-overseas-visitors-are-using-e-cny-paying-more-salaries-with-cbdc.htm">state-owned firm in Huizhou reported that it had paid its employees&rsquo; salaries in CBDC tokens</a>.
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China’s Shenzhen Launches Digital Yuan Industrial Park

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