China is staging yet another lottery for the issuance of the Digital Renminbi for consumption and retail purchases, this time in the capital city of Beijing.
The Beijing financial authority has announced that it will issue 200,000 “red packets” (the traditional gift-giving envelope in China), each containing 200 yuan in the Digital Renminbi, to consumers as part of the “Jingcai Fendou” lottery that will be open to applicants from 5 – 7 June.
Winners of the red packets will be able to use their Digital Renminbi awards to make consumer purchases at designated vendors during the period from 11 – 20 June.
The Beijing municipal government said that the lottery will also be open to people in Beijing who are not registered local residents, and that applicants can register for the lottery via the Bank of China and ICBC mobile banking apps.
China first commenced official testing of the Digital Renminbi in April 2020, in a slew of cities including Chengdu, Shenzhen, Suzhou and the Xiong’an New District.
The Chinese cities of Beijing, Suzhou, Shenzhen, Chengdu and Changsha have all previously held lotteries for the issuance of Digital Renminbi to local consumers, as part of ongoing testing of the new digital currency.
