Chinese cities continue to promote digital yuan through festive lotteries
The city of Shenzhen has launched the third round of its central bank digital currency pilot in the form of a promotional lottery scheme offering residents handouts during local festivities. Residents of the Longhua District in the Chinese city of Shenzhen will have a chance to participate in a forthcoming lottery event that aims to encourage the adoption of the country's new central bank digital currency — known alternatively as the DC/EP, digital renminbi, or digital yuan. Announced on Jan. 20, the lottery is scheduled for Jan. 26, when lots will be drawn to select the 100,000 winners....
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Authorities in two Chinese cities are promoting the digital yuan as a payment method in the public transportation system. Commuters on the subway of Ningbo and those taking the bus in Guangzhou will be able to purchase their tickets using the state-issued digital currency. Residents and Visitors of Another 2 Chinese Cities to Pay Transit Fares With Digital Yuan Ningbo Rail Transit, the operator of the subway system in the city of Ningbo in the eastern Chinese province of Zhejiang, has launched payments in digital yuan, the central bank digital currency (CBDC) issued by the People’s....
Beijing residents should apply to participate in the lottery until midnight on June 7. The Chinese government is launching another digital yuan lottery to stimulate its ongoing digital currency trials, this time in the capital of Beijing.The Beijing Local Financial Supervision and Administration officially announced Tuesday that the government will distribute 40 million digital yuan ($6.2 million) to Beijing residents as part of a new digital currency pilot.Starting in June, the program features “red envelopes” — a traditional way of gifting money, with each providing a free online wallet....
China has expanded its central bank digital currency pilot program to include the payment of tax, stamp duty and social security. Residents in three major Chinese cities have begun paying tax, stamp duty and social security premiums using the country’s central bank digital currency — the digital yuan (e-CNY). According to a domestic news report, a number of government agencies in the Zhejiang province — located just south of Shanghai — are currently running real world trials programs that involve citizens using the digital yuan to pay taxes.The Zhejiang Taxation Bureau is working with the....
China is promoting its central bank digital currency with a public $1.5 million giveaway. The major Chinese city of Shenzhen is launching a pilot program to promote the digital yuan with a public giveaway.In collaboration with the country's central bank, Shenzhen is planning to distribute a total of 10 million digital yuan ($1.5 million) — China’s central bank digital currency, local news agency Sina Finance reports Oct. 9.As reported, the giveaway pilot will be funded by Shenzhen's Luohu District. The giveaway money will be reportedly distributed to 50,000 recipients through a lottery.....
China’s central bank, the People’s Bank of China, has added more cities to test its digital currency. According to the latest official data, the digital yuan has more than 261 million users.
PBOC Adds More Cities to Test Its CBDC
The Chinese central bank, the People’s Bank of China (PBOC), said Saturday that it is adding more pilot cities to test its central bank digital currency (CBDC), the digital yuan (e-CNY).
The new pilot cities are Tianjin, Chongqing, Guangzhou, Fuzhou, Xiamen, and six cities in the Zhejiang province that will host the 2022....