China is planning to replace cash with an official digital currency. Photo: Reuters China is planning to replace cash with an official digital currency. Photo: Reuters
China is planning to replace cash with an official digital currency. Photo: Reuters
China economy

China digital currency: Suzhou to hand out 20 million yuan million of virtual red packets as part of trial

  • Suzhou residents will have the chance to win one of 100,000 digital red packets, each containing 200 yuan (US$31)
  • The scheme is backed by the central bank under moves to make China a cashless society

Topic |   China economy
China is planning to replace cash with an official digital currency. Photo: Reuters China is planning to replace cash with an official digital currency. Photo: Reuters
China is planning to replace cash with an official digital currency. Photo: Reuters
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