Chinese cities are launching giveaways of digital yuan tokens and discount vouchers at the end of the year to promote the adoption of Central Bank Digital Currency (CBDC). The People's Bank of China (PBoC) plans to distribute up to $2.8 million worth of coins and vouchers in Hebei province. Recipients can use their coins and vouchers at over 50,000 participating merchants, and residents must have digital yuan wallets with commercial banks or the Alipay e-pay platform to participate. Similar incentives are also being implemented in Suzhou and Jinan, offering discounts and subsidies to encourage the use of digital yuan.
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