Digital Yuan: Shanghai Authorities to Give $3 Million In CBDC Lottery

Azeez Mustapha



Select a Plan


 1-month subscription



 3-month subscription



 6-month subscription



 lifetime subscription



 Separate Swing Trading Group



Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored


Service for copy trading. Our Algo automatically opens and closes trades.


The L2T Algo provides highly profitable signals with minimal risk.


24/7 cryptocurrency trading. While you sleep, we trade.


10 minute setup with substantial advantages. The manual is provided with the purchase.


79% Success rate. Our outcomes will excite you.


Up to 70 trades per month. There are more than 5 pairs available.


Monthly subscriptions begin at £58.

In its unrelenting efforts to develop and release a digital yuan, Shanghai authorities have announced that they would distribute $3 million worth of the Chinese central bank digital currency to Shanghai residents.

As seen in other parts of China in the past, the digital currency will get distributed through a lottery. The state-run Xinhua news agency announced the new development last Friday.

The Shanghai authorities announced via their official WeChat handle that they have prepared 350,000 red envelopes for lottery winners. Each of these envelopes will contain 55 units of digital yuan.

In Chinese tradition, red envelopes represent small packets containing money typically gifted to children, family members, friends, and employees, intended to act as a good luck wish. The color red also symbolizes energy and happiness in China.

Shanghai authorities announced that portals for registering for the lottery are now on. Interested customers can do so through the official WeChat accounts of the local branch of the Industrial Commercial Bank of China and the cloud service of the Bank of Communications in Shanghai. Registration will take place from June 5 to 6.

Shanghai Becomes Test Site for the Digital Yuan

Being one of the four directly administered municipalities in China, including Beijing, Shanghai, Tianjin, and Chongqing, Shanghai gets governed by the State Council of the People’s Republic. Already, the Chinese government has disbursed millions of dollars worth of digital yuan to spark interest in the public.

The authorities have carried out similar trials in several other Chinese cities, including Beijing, Shenzhen, Chengdu, and Suzhou.

That said, winners of the lottery are free to spend the funds at merchants accepting the digital currency.

However, reports show that most Chinese citizens are wary of participating in the trials due to worries over privacy infringement and government surveillance.


You can purchase crypto coins here: Buy Coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *