About 20,000 digital yuan transactions were made on the platform of e-commerce firm JD.com during the country's digital currency experiment.
It is reported that 80% of the participants have used the platform to conduct digital yuan transactions starting last Friday.
The country's digital currency experiments were also conducted in the real world during the purchase of "Double Twelve" which involved 10,000 physical stores.
Suzhou was one of the locations involved in the digital currency experiment with the launch of 100,000 ‘angpau’ prizes on December 11, after Shenzhen which also launched a similar program in October with $ 1.5 million to 50,000 lucky winners.
However, while the United States (US) is threatened with the advent of the digital yuan, Digital Renaissance Foundation managing director Cao Yin explained that the launch of the digital yuan will not happen in the near future.
China will continue to conduct digital yuan experiments in stages until the authorities are confident in the use of digital currency.
The digital yuan trial program was launched in April, covering several cities such as Shenzhen, Chengdu, Suzhou and Xiongan. As of November, the trial has recorded a record 4 million transactions carrying an estimated total volume of $ 300 million.
The central bank has announced that the trial will be extended to several other districts including Beijing, Tianjin and Hebei province.
