One of China’s big state-owned banks is working with the Hunan province capital of Changsha to stage a Digital Renminbi giveaway, as well as bring Digital Renminbi payments services to the city’s transit system.
Bank of Communications (BOCOM) has teamed up with the Changsha municipal government and municipal transit authorities to hand out 4 million yuan in Digital Renminbi to local residents over the course of an 11 day “red packet” (the traditional Chinese gift-giving envelope) giveaway campaign.
A BOCOM spokesperson said that as part of the campaign, the big state-owned lender is also working with Changsha transit authorities to permit the use of the Digital Renminbi on the local metro system.
BOCOM said it has teamed up with Changsha Metro Group Ltd. to bring Digital Renminbi services to municipal residents via the “Changsha Metro” (长沙地铁) app, including Digital Renminbi recharges, and use of the Digital Renminbi to purchase tickets.
“These convenient services already comprehensively support public transportation, metro and the magnetic rail in Changsha,” said BOCOM.
“Municipal residents can connect to these services via the BOCOM Digital Renminbi wallet. In addition to this, BOCOM is working with chain retailers such as Tepin, Shan Shan Convenience Store and China Nepstar to support Digital Renminbi transactions.”