Shenzhen residents will receive 30 million CBDC
30 million CBDC (e-CNY) will be distributed free of charge in the Chinese city of Shenzhen. The authorities took a similar step to stimulate consumer spending and revive the economy affected by COVID.
The digital yuan distribution project was launched by the authorities together with Meituan Dianping, a leader in the fast food delivery market. To receive funds, you need to go to the application, sign up for the promotion and take part in the lottery.
The received e-CNY can be spent in 15 thousand. outlets hosting CBDC. You can also use cryptocurrency to pay municipal taxes and fees. This is the right decision, according to experts, as China has been hit hard by the spread of COVID.
To disrupt the spread of the disease, many secondary businesses in the country have been closed several times. In this regard, a week ago, the Chinese authorities held a meeting to discuss the economic consequences of the fight against covid. Also, events such as the e-CNY distribution were held in 20 of China's 31 provinces.
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