March 28, 2024

City of Suzhou is also tested by digital yuan

China continues to test the use of digital yuan - the city of Suzhou announced a lottery for distribution among residents of 30million yuan in digital currency (about $ 5 million).

In December 2020, about $ 3 million was also distributed in Suzhou, so this is a repeat testing.

In this case, 150,000 red copies will be published, each of which will contain 200 yuan (about $ З1). The payoff will take place on Friday, but the results will be announced on February 10th.

All recipients of digital yuan will have to spend their money on the on-line electronic platform of JD.com and in a few of 26 pages in 10 minutes.

Last month, an analogous lottery went to the densely populated city of Shenzhen, during which 20 million yuan of digital yuan (about million) was issued.

China has practically completed the development of its ownthe digital currency of the central bank and is currently actively testing it all over the country. The first tests began with the spread of digital currencies among public servants, and soon they began to pass among the people of different cities.

Additionally, China's National Bank (HBK) has agreed to conduct an experiment with private companies, such as JD.com, DiDi, Meituan and Bilibili.

With their participation in December 2020, it was completed20,000 transactions. At the same time, at the moment, the central bank of China is making adjustments with its own Hong Kong collegiate about testing the digital yuan in the administrator's office.

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