China, Malaysia Complete First Outbound e-CNY Durian Payment

China’s digital yuan, or e-CNY, is a central bank digital currency issued by the People’s Bank of China. Beijing has been testing it beyond domestic retail payments as a way to streamline cross-border settlement and broaden use of the renminbi in regional trade. Malaysia’s expanding durian exports to China provide a practical commercial setting for testing whether digital currency can shorten payment chains and reduce banking costs.

In July 2026, the People’s Bank of China’s Xiamen branch coordinated the first outbound e-CNY settlement between China and Malaysia, with China Construction Bank’s Xiamen and Labuan branches processing a 43,000-yuan ($6,360) payment by a Xiamen durian buyer to a Malaysian supplier. Clearing took about 30 minutes, and the recipient could convert e-CNY directly into ringgit without intermediary-bank fees. The transaction followed the corridor’s first inbound test in January 2026, completing a two-way settlement loop.