Chinese city Changsha handed out free digital yuan to its citizens via a lottery on May 31 as a part of the People’s Bank of China central bank digital currency (CBDC) trials.
The “red packets”- a reference to China’s traditional way of gifting cash – each contain 100 to 200 yuan ($15.66 to $31.33) were given to 300,000 winners of the lottery on May 31. According to a report from the Chinese media Sina News, a total of 1.324 million citizens in Changsha participated in the lottery.
In the capital Beijing, a similar lottery will be held on June 5, amid the city’s preparation for building a digital yuan acceptance environment for the 2022 Beijing Winter Olympics.
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