February 17, 2021

Virtual Control: The Agenda Behind China's New Digital Currency

Featuring Emily Jin

Source: Financial Times

Journalists James Kynge, Sun Yu

Celebrations to mark the lunar new year of the Ox, which began on February 12, have been somewhat muted because of the coronavirus pandemic. The numbers of people traveling to visit relatives this year are down sharply, depriving family gatherings a measure of joy.

But it is not all gloom. Authorities in several cities have given away tens of millions of renminbi as new year "red packets" that can be downloaded onto a smartphone. Beijing and Suzhou alone have doled out 200,000 worth Rmb200 ($31) each in a public lottery.

Read the full story and more from the Financial Times.

Authors

  • Emily Jin

    Research Assistant, Energy, Economics, and Security Program

    Emily Jin is a Research Assistant for the Energy, Economics, and Security Program at the Center for a New American Security (CNAS). Her research focuses on U.S.-China competit...