The People’s Bank of China reported that digital yuan payment volumes nearly doubled over the past 14 months, reaching RMB 14.2 trillion ($2 trillion) through September 2025, up from RMB 7.3 trillion in July 2024. The CBDC figures represent a significant acceleration in adoption of the central bank digital currency.
The surge in volume comes alongside explosive wallet growth. The number of digital RMB wallets has climbed to 2.25 billion, more than twelve times the 180 million reported in July 2024. With China’s population at 1.4 billion, the figures suggest users are opening multiple wallets.
However, the average transaction value of RMB 428 ($60) has remained moderately stable since the CBDC pilot first launched. This marks a significant decline from the 2023 peak of RMB 1,895 ($135), which may have indicated a larger proportion of business adoption at that time. The central bank has only periodically released enough data to calculate this metric.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
