Digital yuan boosts Chinese New Year consumption

By Xinhua News Agency

Feb 01, 2023 12:21 am

TIANJIN: On the first day of the Year of the Rabbit, Li, a citizen of Tianjin Municipality, was preparing a red packet for her daughter, a monetary gift traditionally given by the elderly to the younger generation during the Spring Festival.

Instead of withdrawing cash from a bank and putting it in a red envelope, this year, she chose to use the E-CNY mobile application, passing on her blessing with digital fiat currency.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

Samsung Q4 operating profit jumps 129.85%

Apple profit climbs to $124.3B

US economic growth holds steady in 2024

Nissan, Honda to make merger decision mid-Feb

Global air travel hits record in 2024

Denso reports rise in Q3 earnings

Swatch profit falls on weak China demand