More than 2.6 million inhabitants of Shenzhen city have signed up for digital yuan airdrop

The city has about 18 million inhabitants in its prefecture area


• According to data provided by local news agency, the Shenzhen Chamber of Commerce registered more than 2.6 million adhesions to the latest launch of digital yuan, or e-CNY.

Two months earlier, the city of Shenzhen had announced that it would distribute to local residents 30 million e-CNY, the central bank's digital currency to stimulate consumer spending as a recovery measure following the strict coronavirus lockdown in the country.

Users who received the airdrops through a random draw were able to spend e-CNY vouchers at the terminals of the various participating merchants on Meituan, one of the leading e-commerce platforms in China. The event, which took place from May 30 to June 19, attracted more than 67,000 traders.

Similarly, on Wednesday the city of Fuzhou announced that it would distribute 20 million e-CNYs to local residents. Users who have passed the Know Your Customer identification and who have a local phone number can access the city application "e-Fuzhou" and participate in a draw of 100 e-CNY for each launch. Distributed digital yuan can be used in more than 9,000 stores across the city.

Since the beginning of the year, the Chinese government's EFFORTS on CBDC have increased, and the country's central bank has planned to expand the number of e-CNY testing sites to 23, compared to 11 existing.

In tianjin city, you can now take out a loan in e-CNY and pay for subway tickets using digital currency. Between April 2, when e-CNY was introduced in Tianjin, and Sunday, local residents made about 1.86 million transactions in e-CNY, amounting to CNY 290 million among nearly 39,000 sellers.

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