Big state-owned lender Bank of Communications (BOCOM) and e-commerce giant JD.com have teamed up on another digital renminbi lottery, this time concurrently held in the eastern Chinese cities of Shanghai and Suzhou. The giveaway will see the awarding of 16 million yuan in the digital renminbi to residents of Shanghai and Suzhou via “red packets” (the traditional Chinese gift-giving envelope) each containing 20 yuan during the period from 10 – 13 September. Residents in Shanghai and Suzhou were able to register for the event via special sign-up activities held by JD.com throughout the month of August, while starting from 3 September they have been able to sign up via the JD.com app. The digital renminbi awards will come into effect on at 6pm 13 September, and can be used from them until 26 September. The awards will permit winners to make purchases at both online and offline retailers in the Shanghai and Suzhou area that support use of the digital renminbi, as well as at related restaurants and supermarkets.
CNY - Chinese Yuan Renminbi