Digital currency starts to circulate

The Shenzhen municipal government in Guangdong province and China's central bank jointly started issuing digital yuan red packets on Friday, bringing the general public closer to digital currency as China takes the lead in the field.

Individuals in Shenzhen are allowed to take part in a lucky drawing of 50,000 digital currency red packets－monetary gifts given during holidays or on special occasions－totaling 10 million yuan ($1.49 million). The value of each red packet is 200 yuan.

Winners of the drawing will be given instructions on how to open digital yuan wallets and receive their red packets. For about a week, from 6 pm on Monday to 12 am of Oct 19, the winners can pay using the digital currency red packets－much like paying in cash electronically－at 3,389 designated merchants in Shenzhen's Luohu district.