Shenzhen announced on Thursday that the government and the People’s Bank of China (PBOC) will jointly launch a digital currency trial program. Those who are in Shenzhen can take part in a lottery of digital currency red packets.
Major Chinese commercial banks in Shenzhen, South China’s Guangdong Province, have started testing the application of the central bank-backed digital currency for months. Now the government plans to further promote the use of digital RMB.
On Thursday, the Shenzhen municipal government announced on Weibo that a digital currency trial program will be launched. It is a regular test in the process of research and development of the digital Chinese yuan.
The local government allows individuals in Shenzhen to take part in a lottery of 50,000 digital currency red packets totaling 10 million yuan ($1.49 million). The value of each red packet is 200 yuan.
According to some media reports, the program is open to those who are in Shenzhen when they register, and allows them to register with their mobile phone numbers and identification cards.
△ Screenshot of successfully registering
Winners of the drawing will receive text messages giving instructions on how to download a digital yuan application, open a personal digital wallet and receive their red packets.
From 6 pm, Oct 12 to 12 am, Oct 19, winners can pay by digital currency red packets — in the same as paying in cash — at 3,389 merchants in Luohu district of Shenzhen, Guangdong province. Having completed modifications for a digital yuan system, the merchants include supermarkets, retailers, restaurants and lifestyle services providers.
Scan the following QR code follow the official WeChat account of “i深圳’ to enter the registration page.
- How to register and take part in the lottery?
△ Long-press the pic to scan the QR code and enter the registration page
△ Long-press the pic above to scan the QR code and follow the official WeChat account of “i深圳”
Those who register to take part in the lottery must meet both conditions as follows:
- What are the conditions of registration?
- Being in the administrative region of Shenzhen (including the Shenzhen-Shantou Special Cooperation Zone) when registering;
- Register with the mainland phone number and the second-generation ID card.
Yes, as long as they meet the conditions mentioned above.
- Are migrant residents working in Shenzhen allowed to register?
Yes. Family members meeting conditions can register as individuals.
- Can those who are in the same family register at the same time?
After the registration, you need to take part in a lottery. Winners of the drawing will receive text messages giving instructions on how to download a digital yuan application, open a personal digital wallet and receive their red packets.
The registration platform has been open since 0 am, Oct 9, 2020. Individuals in Shenzhen can register anytime before 8 am, Oct 11, 2020.
- Will I get the digital RMB red packet once after registration?
No. In this trial program, 50,000 digital RMB red packets will be sent at a time through drawing, which means that each individual who successfully registered has only one chance to win the lottery.
- Are the red packets issued in batches?
Winners of the drawing will receive the winning text messages. They can also check the result through the “i深圳” app or its official WeChat account.
- How to check the result of the drawing?
- How to receive the red packets?
The text messages will give instructions on receiving the digital RMB red packets. Winners can click the link within the message, following the instructions to download a digital yuan application, open a personal digital wallet and receive the red packets.
They can also check the drawing result and the instructions via the “i深圳” app and its official WeChat account.
Yes. The red packet can be used freely at 3,389 merchants that have completed the digital RMB system modification in Luohu district. It’s just like using cash.
The merchants include supermarkets, retailers, restaurants and lifestyle services providers.
If you have any questions during the registration, you can call the government hotline 0755-12345 or the service hotline of the program organizer 4001391000.
It is reported that China’s central bank digital currency has been used in 3.13 million transactions worth about 1.1 billion yuan ($162 million) so far. Check the following link to know more about it!
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SOURCE | 21 世纪经济报道 / China Daily