Asia • January 15, 2021, 10:31AM EST

Ant Financial quietly conducted a digital yuan test in Shanghai via AliPay

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Quick Take

  • Alibaba’s payment affiliate has quietly debuted a small-scale test of digital yuan via its mobile app AliPay.
  • This was the first known instance in which the digital yuan was tested in a mobile wallet developed by a non-state-owned entity.
  • But it appears the test did not draw much attention amid China’s ongoing scrutiny over Ant Financial.