• December 5, 2023


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Some Chinese Cities Give Away 180 Million e-CNY to Promote the CBDC

ByLouis Adams

Feb 6, 2023 #CBDC, #China
Reading time: < 1 minute

According to local media, the authorities of many cities in China have given away 180 million e-CNY in the form of subsidies and coupons to stimulate the use of the CBDC by the population in the Chinese New Year.

About 200 events were reportedly launched for this purpose. In particular, one of the participants was Meituan, the largest food delivery service in the country, which recorded the use of handed out e-CNY within nine seconds.

The country’s authorities have earlier added the function of receiving winnings from the “red envelope” lottery and the possibility of contactless payments on Android devices to the wallet for the digital yuan.