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According to Hunan Province official newspaper, At the end of 2022, “more than 300,000 digital yuan merchants” now operate in Changsha. The city claimed that “more than 53.25 million” digital yuan transactions have been processed by its residents. In total, transactions worth over $1.2 billion have been processed in Changsha to date.
The city is home to just under 8 million people and is the capital of Hunan. It was added to the digital yuan pilot in April 2021 – in the second batch of “pilot” cities, along with Shanghai, Hainan, Xi’an, Qingdao and Dalian.
The pilot began using the coin in April 2020 with citizens of Shenzhen, Suzhou, Chengdu and Xiong’an first.
The pilot has since expanded to 17 cities, with Hong Kong and Macau now also working with the Beijing-based central bank. Testing “cross-border” functionality,
Digital Yuan Adoption Drive Picks Up Speed in Changsha and Beyond
Changsha said Changsha has “repeatedly ranked among the top regions” for the accumulated number of personal digital wallets opened, business transactions and monthly active wallets, according to data from the central People’s Bank of China (PBoC).
Last month’s Lunar New Year celebrations saw PBOC and its commercial partners launch further adoption campaigns with several token gifts in Hangzhou and Beijing.
In Tianjin, the state-owned China Construction Bank offered customers a discount of up to 50% on going to movie theatres, eating out or shopping – provided they used the digital yuan to pay their bills.
and media outlets in Shenzhen jrj The local government handed out digital yuan vouchers worth $15,000 yesterday – with the maximum value being less than $100.
Vouchers can be redeemed at local food stores and restaurants that accept digital yuan payments.
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