SHANGHAI/SINGAPORE, April 24 (Reuters) - Chinese digital currency-related stocks jumped on Monday in a weak broader market, amid the latest measures that China is taking to promote the use of its own central bank digital currency (CBDC), the digital yuan.
"The development marks the latest trial China is doing to promote its e-CNY," said Dan Wang, chief economist at Hang Seng Bank China, referring to the digital yuan.
Shares in Global Infotech Co (300465.SZ) soared 13% by midday, Chutian Dragon Co (003040.SZ) surged 8%, while Newland Digital Technology Co (000997.SZ) and Northking Information Technology Co (002987.SZ) also rose.
However, the three people all said they don't find adequate scenarios to spend the digital yuan in their daily life.
"I don't know how to use it, to be honest, no merchant around me receives digital yuan," Yang told Reuters, only giving her surname as she is not authorised to speak to the media.