The management of the state-owned company does not disclose the name of its counterparty and the size of the transaction. It is noted that the transaction on SHPGX occurred at the request of the local government of Shanghai, which strongly recommended the use of the electronic yuan (e-CNY) in international trade.
The state-owned company emphasized that the PetroChina (SS:601857) oil purchase deal was the second deal to purchase raw materials on the Shanghai Exchange, where the transaction currency was denominated in digital yuan, and the first in history when the object of the deal was oil. Previously, a similar agreement with payment in e-CNY was concluded by China National Offshore Oil and the French Engie for the supply of 65,000 metric tons of liquefied natural gas.
Former head of the People's Bank of China (PBOC) Zhou Xiaochuan expressed the opinion that the integration of the digital yuan (e-CNY) into the country's economy contributes to the effective fight against financial crimes and money laundering.