Shenzhen Giving Away Millions in Digital Yuan in Lottery to Boost Consumption, Test Tech: Report

The fast-growing city of Shenzhen will be giving away 10 million yuan ($ 1.47 million) of China's new sovereign digital money via lottery as China tries to test and stimulate use of the digital funds in the morning mail, according to a report in southern China.
The winners will be announced on Sunday and the currency can be used in 3,389 stores. They can't be transferred or moved to a regular bank account, the report said.
The promotion is part of China's plan to switch exclusively to digital currencies known as DCEP (Digital Currency Electronic Payment).
The new currency has been used in a number of test programs across the country for transactions valued at more than one billion yuan over the past 12 months.

See also: China sees advantages in being number one on the new digital currency battlefield

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Shenzhen is giving away millions in digital yuan in the lottery to boost consumption, Test Tech: Report
Shenzhen is giving away millions in digital yuan in the lottery to boost consumption, Test Tech: Report
Shenzhen is giving away millions in digital yuan in the lottery to boost consumption, Test Tech: Report
Shenzhen is giving away millions in digital yuan in the lottery to boost consumption, Test Tech: Report

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