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China’s Digital Yuan Initiative Gets Cold Reception From Hong Kong Visitors

Shenzhen city, China’s southeastern metropolis that connects the mainland to Hong Kong, has started to issue digital yuan hard wallets to Hong Kong tourists but demand has so far failed to meet expectations.

Local authorities in Luohu, a district of Shenzhen on the crossing between Hong Kong and the mainland, installed China’s first digital yuan hard wallet dispenser machines on Feb. 18, which are open only to Hong Kong residents, according to the local government’s social media.

Luohu launched the project in collaboration with the Bank of China and Octopus Cards, a smart card for payments in Hong Kong. The goal was to issue 50,000 digital yuan hard wallets from Feb. 22 to Mar. 31, but as of Feb. 26, only 625 visitors had taken up the offer, local media reported on Tuesday.

(By TOM ZUO)

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