Major cities in China are planning to support testing of the country's sovereign digital currency (DCEP), according to the Global Times .
Beijing Mayor Chen Jining said the capital will accelerate the construction of innovative demonstration zones for financial technology in 2021 and promote the pilot application of DCEP.
Shanghai Mayor Gong Zheng, speaking with a report on the work of the municipal government, noted that it will continue the policy of financial openness and support the advancement of the digital yuan.
Guangdong Provincial Governor Ma Xingrui has pledged that the authorities will help turn Shenzhen into an innovative pilot zone for DCEP.
On January 20, the city launched the third round of digital yuan testing. In October 2020, the Shenzhen authorities distributed 50,000 red envelopes with 200 digital yuan each to residents through a lottery . During the second experiment in the first half of January, twice as many similar lots were distributed.
In the third phase of urban digital currency testing , residents of Longhua District are participating, among whom 100,000 "red envelopes" were distributed for a total of 20 million yuan.
Recall that a similar mass testing of DCEP was also held in Suzhou .