Beijing joined the nation’s e-CNY (e-yuan) initiative after Shenzhen, Suzhou and Guangdong entered the pilot programme in recent months, and is widely seen as a major…
China has begun trialling its digital yuan with 200 yuan ($31 USD) packets in Beijing, China Daily reported, citing a notice from the Beijing Local Financial Supervision and Administration. The traditional ‘red packet’, or hong-bao (红包) was dispersed via a random draw and allows recipients to pay via specific apps or with digital wallets, namely for restaurants in stores in Beijing’s Wangfujing shopping districts.
