Travelling to China just got a digital upgrade. Singaporeans can now use China’s e-CNY, the digital renminbi, through a new pilot program that lets travellers top up digital wallets directly from their Singapore bank accounts.

But what does this mean beyond convenience? Is it simply another payment option, or part of a larger plan to expand China’s currency influence globally?

On The Big Story, Hongbin Jeong speaks with Dr. Ernie Teo, Senior Lecturer, and Program Director for the Bachelor of Applied Computing in Finance, Nanyang Technological University to unpack the rise of the e-CNY for tourists and explore its broader implications for digital payments and state-backed currencies.