Business
Shenzhen residents embrace digital currency – BBC News
A trial of the currency proves popular, as China’s central bank prepares to launch it later this year.
Image copyrightGetty Images
China’s central bank has issued 10 million yuan ($1.5m; £1.1m) worth of digital currency to 50,000 people in the Shenzhen area via a lottery.
The move is the latest in a series of trials testing out China’s new Digital Currency Electronic Payment (DCEP).
Those who were successful received digital “red packets” worth about 200 yuan, which they could download and spend at more than 3,000 stores.
Nearly two million people signed up to take part in the lottery.
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