China’s e-RMB era comes into closer view
Asia Times - China·2020-10-28 22:09
A city-wide cash lottery in China’s southern metropolis of Shenzhen brought out almost two million residents earlier this month – albeit virtually – when there was a lemming-like rush to sign up for a mobile phone-based cash handout.
Under the scheme, 50,000 of them reputedly received no less than 200 yuan (US$30) each, in the form of e-renminbi rather than paper money. The cash giveaway was part of celebrations marking the 40th anniversary of the city as a testbed for China’s economic reforms.
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