{"id":43632,"date":"2021-06-02T15:14:16","date_gmt":"2021-06-02T12:14:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=43632"},"modified":"2025-08-31T13:16:43","modified_gmt":"2025-08-31T10:16:43","slug":"beijing-to-distribute-over-6m-in-cbdc-testing","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/beijing-to-distribute-over-6m-in-cbdc-testing\/","title":{"rendered":"Beijing to distribute over $6m in CBDC testing"},"content":{"rendered":"<p>In June, Beijing authorities <a href=\"http:\/\/jrj.beijing.gov.cn\/jrgzdt\/202106\/t20210601_2403630.html\">will distribute<\/a> central bank digital currency (CBDC) to the population. Lottery winners will receive &#8220;red envelopes&#8221; containing 200 digital yuan ($31.32).<\/p>\n<p>In total, authorities will distribute 40 million yuan (~$6.26 million) among 200,000 lucky recipients. To participate in the draw, you must register through the Bank of China and Industrial and Commercial Bank of China mobile apps.<\/p>\n<p>Registration will run until June 7, and winners will be announced within a few days. The funds must be spent by June 20.<\/p>\n<p>The distribution is part of CBDC testing. For Beijing this is already the second lottery \u2014 in February the administration <a href=\"https:\/\/mp.weixin.qq.com\/s\/EGsbFLvCMxB7WUXHJ1z_JA\">raffled<\/a> 10 million digital yuan among residents.<\/p>\n<p>China has conducted nine lottery campaigns in five cities. In October 2020, <a href=\"https:\/\/u1f987.com\/en\/news\/digital-yuan-airdrop-drew-nearly-2-million-people\">first mass testing of the digital yuan<\/a> in Shenzhen, which <a href=\"https:\/\/u1f987.com\/en\/news\/shenzhen-to-hold-third-mass-test-of-digital-yuan\">was organized<\/a> and already had three distributions. CBDC trials also involved Suzhou, Chengdu and Changsha.<\/p>\n<p>As reported, Hong Kong authorities are negotiating with mainland China to <a href=\"https:\/\/u1f987.com\/en\/news\/hong-kong-and-china-to-expand-testing-of-the-digital-yuan-in-cross-border-payments\">expand CBDC testing<\/a> in cross-border transactions. <\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In June, Beijing authorities will distribute central bank digital currency to the population. Lottery winners will receive &#8216;red envelopes&#8217; containing 200 digital yuan.<\/p>\n","protected":false},"author":1,"featured_media":43633,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,133,1369],"class_list":["post-43632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-china","tag-yuan"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=43632"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43632\/revisions"}],"predecessor-version":[{"id":43634,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43632\/revisions\/43634"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/43633"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=43632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=43632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=43632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}