China explores digital yuan for cross-border transactions Xinhua | Updated: 2021-04-02 11:05 China's official app for digital yuan is seen on a mobile phone next to 100-yuan banknotes in this illustration picture taken Oct 16, 2020. [Photo/Agencies] BEIJING - China is exploring ways to use its digital yuan for cross-border transactions to meet market demand, the central bank said on Thursday. The People's Bank of China (PBOC) has worked with the Hong Kong Monetary Authority (HKMA) on the technical testing of using the digital yuan for cross-border payments on the Chinese mainland and Hong Kong, said Wang Xin, an official with the PBOC, at a news conference.