Central Bank Digital Currencies
China’s digital currency Pilot
Amount issued: 20 million digital yuan ($3.06 million)
USD Equivalent: $3.06 million
Trial City: Suzhou City, East China’s Jiangsu province
First Issuance: Friday, coinciding with another Chinese shopping festival on Dec 12, 2020 20:00 hours. (Pilot program was started on 5th Dec), validity till 27th Dec 2020.
Initial distribution: Random draw (Lottery)
App: Official app of digital renminbi
Online places: Chinese online retail giant JD.com
Issuer: People’s Bank of China, the country’s central bank and Suzhou municipal government
Other identified locations identified: Beijing-Tianjin-Hebei region, the Yangtze River Delta, the Guangdong-Hong Kong-Macao Greater Bay Area and some eligible locations in midwestern China
