Chinese cities airdropped 180M digital yuan (e-CNY) worth $26.6M during Lunar New Year celebrations between Jan. 22 and Feb. 5.
Data from Meituan, a popular Chinese food delivery platform, shows that 20 million digital yuan vouchers were taken up in less than 10 seconds.
- China
has prioritized the development of its central bank digital currency
(CBDC) as part of its digital economy transformation.
- Chinese consumers have demonstrated enthusiasm about the launch of digital currency.
- During the Lunar New Year celebrations, nearly 200 digital yuan activities were launched in mobile communications, supermarkets, transportation, and tourism.
- Jinan
in East China's Shandong Province and Lianyungang in East China's
Jiangsu Province also issued digital yuan coupons during the holidays to
boost adoption.
- Residents in the province have opened 24.14 million e-CNY wallets, generating 3.5B yuan ($510M) in tax refunds.
- Over 1,400 blockchain firms are operating in China despite strict regulations.
- Together, Chinese and U.S. blockchain firms account for 52% of such entities globally.
