Chinese Universities to Pay Staff Salaries in Digital Yuan From November

Some universities in China will begin paying faculty and staff salaries in the digital yuan, the country's central bank digital currency, from November.

Yangzhou University and Nantong University in Jiangsu province plan to pay salaries into digital yuan wallets starting in November, according to Chinese local media including Southern Daily on October 26. The two schools adopted the policy after receiving notice from Jiangsu provincial fiscal authorities.

Yangzhou University on October 20 issued guidance to full-time faculty and staff, as well as contract workers hired through personnel agencies, on opening or upgrading digital yuan wallets. The university asked employees to complete wallet setup by October 23 and said the digital yuan they receive can also be transferred to their existing payroll accounts.

Nantong University also announced on October 23 that it will pay employee salaries in the digital yuan. Because salaries and performance-based pay are deposited into separate accounts, staff must open digital yuan wallets for both accounts by October 30.

Jiangsu Normal University said it will gradually roll out salary payments in the digital yuan as well. It did not disclose a specific start date.

China has continued efforts to use the digital yuan for payroll at public institutions. In Changzhou, a city in Jiangsu province, authorities expanded a citywide system in September 2024 to pay part of the salaries of government employees, state-owned enterprise workers and public institution staff in the digital yuan.