Shanghai Pudong Development Bank Expands Digital Yuan Development — Chengdu Becomes China’s New CBDC Tech Hub

A hiring spree signals that the e-CNY project is shifting from pilot phase to full-scale infrastructure deployment — and SPDB is leading the charge.

⚡ Quick Facts

• 🏦 Bank: Shanghai Pudong Development Bank (SPDB)
• 🧠 Focus: Digital yuan (e-CNY) tech expansion
• 🏗️ New base: Chengdu, China
• 📅 Goal: Full CBDC integration into national banking system by 2030

🔧 Strengthening the Digital Yuan Infrastructure

Shanghai Pudong Development Bank (SPDB) has kicked off a major recruitment campaign in Chengdu, seeking engineers, software architects, and system specialists to build and maintain China’s next-generation digital yuan infrastructure.

This move deepens the institutional backbone of the e-CNY, aligning directly with the People’s Bank of China (PBOC) roadmap to digitize the yuan and extend CBDC integration beyond Shanghai and Beijing.

“China’s central bank will further refine the management system of the digital yuan and explore its role within the country’s broader monetary framework… The central bank will support more commercial banks to become authorized operators of digital yuan services.” — Pan Gongsheng, Governor, PBOC

SPDB’s Chengdu hub will focus on system reliability, data security, and transaction efficiency, reinforcing e-CNY infrastructure as a core component of China’s financial modernization plan.

🌍 China’s Expanding CBDC Strategy

The e-CNY project, launched in pilot form back in 2020, has grown into the world’s most advanced central bank digital currency (CBDC) network. SPDB was among the first commercial banks authorized to operate digital yuan wallets, now used across multiple provinces for retail and corporate payments.

In 2025, China established the International Operation Center for the Digital Yuan in Shanghai — a move widely seen as the first step toward internationalizing the RMB via digital channels.

The current strategy rests on three pillars:

1. Scaling infrastructure for national transaction capacity.
2. Integrating commercial banks into a unified CBDC network.
3. Establishing regulatory clarity around data privacy and operator licensing.

While Bitcoin and Ethereum remain unaffected, China’s institutional commitment to the e-CNY could influence how other central banks structure their own digital currency programs.

💡 Global Ripple Effects

China’s digital yuan initiative is increasingly setting the tone for global CBDC development:

• 🇪🇺 The European Central Bank continues testing the Digital Euro prototype.
• 🇺🇸 The U.S. Federal Reserve remains in research mode regarding a digital dollar.
• 🇹🇭 🇸🇬 Southeast Asian economies — particularly Thailand and Singapore — are experimenting with cross-border CBDC interoperability, often in collaboration with China.

By expanding e-CNY engineering operations to Chengdu, SPDB is decentralizing innovation itself — spreading technical capacity and CBDC expertise across China’s major economic zones.

🧩 Why It Matters

SPDB’s recruitment push isn’t just a hiring wave — it’s a clear indicator that China’s CBDC strategy is moving from policy to practice.

If successful, it could:

• Improve system scalability for nationwide e-CNY use.
• Broaden regional fintech participation beyond Tier-1 cities.
• Strengthen digital RMB infrastructure for domestic and cross-border payments.

The digital yuan isn’t designed to compete with decentralized cryptocurrencies — it’s China’s state-backed counterpoint to them. Yet, its scale and sophistication will likely shape how the future of programmable money unfolds across Asia and beyond.

🧠 TL;DR

• SPDB launches a major tech recruitment drive in Chengdu to scale digital yuan infrastructure.
• The move supports China’s CBDC roadmap under the PBOC.
• e-CNY expansion signals the shift from pilot testing to national implementation.
• Global regulators are watching — as China sets the benchmark for centralized digital currency systems.

🔗 Read also

• China Reaffirms Crypto Ban, Strengthens e-CNY Development
• Bank Indonesia’s Digital Rupiah Plan Targets 2030 Launch
• Visa Expands Stablecoin Settlements Across Four Blockchains