Second Suzhou Digital Currency Trial Issues 30m RMB | Dao Insights

Second Suzhou digital currency trial with 30m RMB issued on JD

Following the successful distribution of 20 million digital RMB red envelopes in Suzhou in December last year, the city will launch the ‘Digital RMB: JD Group & Suzhou Chinese New Year Shopping Festival’. During the festival, which will begin on February 5, 30 million digital RMB will be distributed. In total, 150,000 red envelopes will be given out, each containing 200 RMB. The event is jointly organised by the Suzhou Municipal People’s Government and e-commerce giant JD Group.

To take part in the scheme, individuals must meet two criteria: to have paid social insurance in Suzhou at least once in the past three years, and have a household registration or temporary residence in Suzhou.

Suzhou citizens can use the ‘Suzhoudao’ 苏周到 app or JD app to register for the red envelope draw, which will be open to applicants between 0:00 on February 5 and 24:00 on February 6. Citizens who are successful in the lottery draw can spend the digital RMB red envelopes at designated online e-commerce sites or offline merchants in Suzhou from 18:00 on February 10 to 24:00 on February 26.

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