Shenzhen enlarges e-yuan trial by giving away virtual 'red packets'
China's tech hub of Shenzhen has launched a second digital currency trail on Thursday by giving away virtual envelopes. Each packet contains 200 yuan or 31 U.S. dollars. A total of 100,000 local residents can get the money through the lottery. That is twice the number of participants compared with the first trial in October. Customers can spend the money in more than 10,000 restaurants and stores before the balance expires on January 17. The Digital Currency Electronic Payment, or DCEP, is a sovereign currency carried out by the People's Bank of China. Experts say the pilot program shows China's ambition to strengthen the infrastructure of financial technology.