China uses digital yuan to maintain the economy in certain regions of the country – Bits Media

The administrations of cities and regions of China in response to the call of the Government of the PRC launched a series of lotteries, Participants who can win digital coupons for free receipt of e-cny.

At a nationwide video conference Prime Minister of China Lee Ketsyan (Li Keqiang) He called the leaders of the provinces, municipalities and rural areas accelerate the implementation of infrastructure projects, increase the number of jobs and restore the economic growth of areas, suffering from restrictions during Pandemia of Coronavirus.

China authorities will release a series of digital yuan to stimulate the economy in the regions, which were most affected by restrictions, associated with pandemia Covid-19. Within the framework of this initiative, the administration of the city of Shenzhen launched a lottery with a fund in 30 Mill of digital yuan ($4.5 million). Residents of the city got the opportunity to win "red bags" with free 88, 100 and 128 digital yuan.

"Red Packages" in China and other Asian countries are cash gifts in red envelopes, which are awarded for special occasions. For digital currency of the Central Bank of China (e-CNY) They are distributed in the form of digital coupons.

Sunan district-a special economic zone southwest of Beijing-also began to distribute “red bags”, giving the right to receive free e-cny, Within the framework of its plan to improve the consumer power of the population with the general fund in 50 Mill of digital yuan.

Earlier, the municipality of the city of Nansha in Guangzhou said, What will be given 10 Mill of digital yuan in “red packages” for the development of catering and retail enterprises, However, the exact date of launch of this initiative has not yet been reported.

In February, the administration of the city of Suzhou distributed through the lottery 150 000 residents of the city by 200 digital yuan (about $31). The winners spent money from 10 by 26 February in stores, where the digital yuani were accepted.