{"id":43267,"date":"2023-11-07T01:14:34","date_gmt":"2023-11-07T01:14:34","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/crypto\/chinas-digital-yuan-scores-taiwan-bond-first\/"},"modified":"2023-11-07T01:14:36","modified_gmt":"2023-11-07T01:14:36","slug":"chinas-digital-yuan-scores-taiwan-bond-first","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=43267","title":{"rendered":"China\u2019s Digital Yuan Scores Taiwan Bond First"},"content":{"rendered":"<div>\n<figure id=\"attachment_127370\" aria-describedby=\"caption-attachment-127370\" style=\"width: 1250px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-127370\" class=\"wp-caption-text\">Source: f11photo<\/figcaption><\/figure>\n<p>China\u2019s digital yuan has completed another historic CBDC first, with a Taiwan-based firm \u201csuccessfully\u201d issuing e-CNY bonds.<\/p>\n<p>The offering, an ultra-short-term financing bond, was launched by Xiamen Xiangyu Group (XMXYG), a Mainland Chinese financial firm based in Xiamen that also operates in Taiwan.<\/p>\n<p>The media outlet wrote:\n<\/p>\n<blockquote>\n<p>\u201cThis bond is the country\u2019s first cross-strait integrated digital [yuan] bond, with the largest issuance scale to date of [around $68 million].\u201d<\/p>\n<\/blockquote>\n<p>\nThe funds raised during the issuance were \u201ccollected in the issuer\u2019s digital yuan wallet,\u201d and \u201cpart of the funds\u201d were \u201cused by XMXYG\u2019s Taiwan [arm].\u201d<\/p>\n<p>Per Jinse, via Anue, the bond issuance was \u201cexclusively underwritten\u201d by Industrial Bank, a majority Chinese state-owned bank based in Fujian Province.<\/p>\n<p>The province is the closest Mainland Chinese region to Taiwan, and is washed by the Taiwan Strait to the east.<\/p>\n<figure id=\"attachment_127374\" aria-describedby=\"caption-attachment-127374\" style=\"width: 603px\" class=\"wp-caption alignnone\"><figcaption id=\"caption-attachment-127374\" class=\"wp-caption-text\">China and Taiwan, with Fujian Province shaded in red. (Source: TUBS [CC BY 3.0])<\/figcaption><\/figure>\n<p>Trade and exchange between the province, the rest of Mainland China, and Taiwan are referred to as \u201ccross-strait\u201d relations.<\/p>\n<h2>Has China\u2019s Digital Yuan Gone \u2018Cross-Strait\u2019 to Taiwan?<\/h2>\n<p>\nThe media outlet reported that XMXYG\u2019s \u201cinnovative\u201d new method of raising funds from bonds had \u201cfurther enriched the application scenarios of the digital [yuan].\u201d<\/p>\n<p>And, the outlet continued, the issuance would help China \u201cpromote the integrated development of the Strait.\u201d<\/p>\n<figure id=\"attachment_127376\" aria-describedby=\"caption-attachment-127376\" style=\"width: 601px\" class=\"wp-caption alignnone\"><figcaption id=\"caption-attachment-127376\" class=\"wp-caption-text\">Visitors to a financial industry fair held in Zhenjiang\u2019s Phoenix Cultural Plaza are shown how to use digital yuan wallets. (Source: yangli20067\/Weibo)<\/figcaption><\/figure>\n<p>Until very recently, the digital yuan\u2019s cross-border credentials were only being put to the test in regions such as Hong Kong and Macau.<\/p>\n<p>But that has all changed in the past few weeks, with Chinese banks and trading firms now looking to secure bridgeheads in other East Asian locations.<\/p>\n<p>Efforts have seen financial institutions and traders explore the notion of Belt and Road Initiative (BRI) CBDC adoption, complete a digital yuan-powered crude oil deal, and establish a Singapore e-CNY partnership.<\/p>\n<figure id=\"attachment_127377\" aria-describedby=\"caption-attachment-127377\" style=\"width: 604px\" class=\"wp-caption alignnone\"><figcaption id=\"caption-attachment-127377\" class=\"wp-caption-text\">A dance performance at a promotional event intended to spur digital yuan adoption in Zhenjiang\u2019s Phoenix Cultural Plaza. (Source: yangli20067\/Weibo)<\/figcaption><\/figure>\n<p>Late last month, the Chinese ride-sharing operator Didi Chuxing unveiled a new series of digital yuan-powered payment options for its customers, as big businesses rush to adopt the coin.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/chinas-digital-yuan-scores-taiwan-first-with-bond-offering.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: f11photo China\u2019s digital yuan has completed another historic CBDC first, with a Taiwan-based firm \u201csuccessfully\u201d issuing e-CNY bonds. The offering, an ultra-short-term financing bond, was launched by Xiamen Xiangyu Group (XMXYG), a Mainland Chinese financial firm based in Xiamen that also operates in Taiwan. The media outlet wrote: \u201cThis bond is the country\u2019s first [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":43268,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[35],"tags":[],"class_list":{"0":"post-43267","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China\u2019s Digital Yuan Scores Taiwan Bond First | Prosfunds<\/title>\n<meta name=\"description\" content=\"Source: f11photo China\u2019s digital yuan has completed another historic CBDC first, with a Taiwan-based firm \u201csuccessfully\u201d issuing e-CNY bonds. 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