On 27 January, authorities in Chengdu, Sichuan, will distribute 30 million digital yuan to residents (~$4.6 million). The Block reports, citing local media.
JD.com will also receive 20 million yuan ($3.1 million). In December 2020, the company already participated in the experiment — within a day after it began, customers conducted on the site almost 20,000 transactions in the national digital currency (DCEP).
Winners of the red envelopes lottery in Chengdu must spend the prize from 4 to 26 February 2021.
Earlier, mass testing of the digital yuan occurred in Shenzhen. During the second test, DCEP residents performed almost 140,000 transactions totaling 18.22 million yuan (~$2.8 million).
In January 2021, third phase of trials began. In the same month, Beijing and Shanghai announced plans to support DCEP testing.
Earlier, an experiment distributing 100,000 ‘red envelopes’ took place in Suzhou.
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