business

Huawei launches new smartphone featuring digital hardware wallet

SHANGHAI, Oct. 30 (Xinhua) — Huawei launched its new Mate40 series for domestic market in Shanghai on Friday, the first smartphone that supports a digital RMB hardware wallet.

Yu Chengdong, CEO of Huawei’s consumer business, said the Mate40 series features encrypted storage, high-performance near-field communication, and device-to-device transaction functions, which will bring a new, safe, and convenient payment experience for users in dual offline transactions.

Some other new products were also launched on the same day, including smart wearable devices, as well as health management and smart home products.

China’s Ministry of Commerce said in August that the country would pilot the digital RMB in select regions across the country, including the Beijing-Tianjin-Hebei region, the Yangtze River Delta, the Guangdong-Hong Kong-Macao Greater Bay Area, and some eligible locations in midwestern China.

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