Li Lan, who won a 200-yuan red packet in Suzhou’s e-yuan test, scans a QR code with her smartphone to make a payment at an electronics shop. Photo: Orange Wang
Li Lan, who won a 200-yuan red packet in Suzhou’s e-yuan test, scans a QR code with her smartphone to make a payment at an electronics shop. Photo: Orange Wang

China’s latest digital currency test doubles down on previous trial, nudging merchants and consumers to embrace e-yuan

  • In China’s largest test yet of its digital sovereign currency, 100,000 ‘red packets’ containing 200 e-yuan (US$30) were distributed via lottery in Suzhou city
  • Some business owners were reluctant to participate in latest pilot programme, but were told, ‘A merchant can decline payment in Alipay or WeChat Pay, but cannot decline payment in e-yuan’

Knowledge |   China's digital currency
Li Lan, who won a 200-yuan red packet in Suzhou’s e-yuan test, scans a QR code with her smartphone to make a payment at an electronics shop. Photo: Orange Wang
Li Lan, who won a 200-yuan red packet in Suzhou’s e-yuan test, scans a QR code with her smartphone to make a payment at an electronics shop. Photo: Orange Wang
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