Beijing Kicks off New Renminbi Trial with Focus on 2022 Winter Olympics


The Chinese capital has launched a new digital renminbi trial campaign in a bid to spur greater usage and adoption in the lead up to the 2022 Beijing Winter Olympics.

The Beijing municipal finance authority launched the “Jingcai Huiminsheng” (京彩惠民生) digital renminbi trial campaign on 3 December.

Beijing officials said that the objective of the trial to “develop a Beijing Winter Olympics payments environment that is secure and convenient, excellent quality and high efficiency.”

The focus of the new campaign will be usage of small amounts of the digital renminbi for daily living purposes, in areas including public transportation, the metro system, super markets, postal services and bookstores.

The campaign will see the provision of free “red packet” digital renminbi awards to local residents, as well as discount vouchers for consumer spending using the digital currency.