Chinese Cities Launch End-of-Year Digital Yuan Giveaways

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By BitcoinWiki News

Key Takeaways:

  • More Chinese cities giving away digital yuan tokens and discount vouchers
  • PBoC’s Hebei branch and local government authorities in Hebei province giving out $2.8 million worth of coins and vouchers
  • Recipients can spend at more than 50,000 participating merchants
  • Residents must open or hold digital yuan wallets with commercial banks or the Alipay e-pay platform to register their interest
  • Similar incentives in Suzhou, where banks are focusing on e-CNY discount vouchers
  • Hong Kong’s government says more banks are preparing to join Mainland China’s digital yuan pilot
  • Jinan Municipal Government is distributing digital CNY subsidies to low-emission vehicle owners
  • Previously, Shenzhen’s Yantian District told couples they could receive e-CNY coins if they register their marriages in the district before the end of the year

Section 1: Chinese cities are promoting the adoption of digital yuan by giving away tokens and discount vouchers, with the PBoC’s Hebei branch and local government authorities in the province planning to give out $2.8 million worth of coins and vouchers this month. Recipients can spend their coins and vouchers at more than 50,000 participating merchants, and residents must have digital yuan wallets with commercial banks or the Alipay e-pay platform to register their interest.

Section 2: In Suzhou, banks are offering e-CNY discount vouchers that allow citizens to enjoy discounts of up to 80% when paying with the CBDC in local stores, with the city issuing vouchers worth $620,000 on December 6. The city distributed a total of 68,200 vouchers in conjunction with the China Construction Bank.

Section 3: Additionally, more e-CNY giveaway events are being held in Jinan, with the municipal government distributing digital CNY subsidies to low-emission vehicle owners this month, along with Qilu Bank. Drivers can receive up to $704 worth of CBDC coins if they meet certain criteria.

Section 4: The promotion of digital yuan adoption also extends to other cities, with Shenzhen’s Yantian District encouraging couples to receive e-CNY coins by registering their marriages in the district before the end of the year.

Section 5: Overall, Chinese cities are actively promoting the adoption of digital yuan through various incentive programs and giveaways, aiming to increase the usage and acceptance of the CBDC among citizens and businesses.

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