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Chinese City of Shaoxing Plans Digital Yuan Giveaway for Asian Games-themed Event

The city of Shaoxing in China is planning to give away digital yuan tokens worth $5.6 million as part of an Asian Games-themed event. The tokens will be distributed by the Shaoxing Municipal Bureau of Finance through a lucky draw-type event. To be eligible, entrants must have digital yuan wallets and be registered residents of Shaoxing. The event is being held to boost adoption of China's central bank digital currency (CBDC) prior to the Asian Games, which will be held in Hangzhou starting on September 22.

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