{"id":18718,"date":"2021-06-07T16:49:19","date_gmt":"2021-06-07T16:49:19","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=18718"},"modified":"2026-04-23T18:49:09","modified_gmt":"2026-04-23T21:49:09","slug":"shanghai-to-test-digital-yuan-for-lottery-prizes","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/shanghai-to-test-digital-yuan-for-lottery-prizes","title":{"rendered":"Shanghai to test digital yuan for lottery prizes"},"content":{"rendered":"\n

Lottery winners will receive 350,000 digital red envelopes containing 55 units of the Chinese central bank’s digital currency (CBDC) equivalent to $3m.<\/p>\n\n\n\n\n\n\n\n

China.- Authorities in China continue\u00a0to test the use of virtual currency<\/strong>. Now the city of Shanghai has announced it will\u00a0launch a prize of 19.25m digital yuan ($3m)<\/strong>\u00a0in\u00a0lottery winnings<\/strong>.<\/p>\n\n\n\n

Such an initiative has already been tested by other cities<\/strong>\u00a0such as Beijing, Shenzhen, Chengdu and Suzhou following the Chinese government’s push to implement its Digital Currency Electronic Payment (DCEP) system.<\/p>\n\n\n\n

The Shanghai lottery\u00a0<\/strong>will be open between June 5 and June 6. Winners will be able to spend the digital yuan at stores that already accept the virtual currency.<\/p>\n\n\n\n

In April,\u00a0Chinese authorities<\/a>\u00a0chose\u00a0Macau as a testing ground for the digital currency along with Hong Kong<\/strong>.<\/p>\n\n\n\n

The people\u2019s Bank of China (PBoC) announced it was\u00a0working on the technical testing for using virtual currency\u00a0<\/strong>for cross-border payments between the Chinese mainland and Hong Kong.<\/p>\n\n\n\n

According to the Macau Gaming Research Association, the implementation of\u00a0a virtual currency could mark a watershed moment for the gaming industry<\/strong>\u00a0as customers could buy chips instantly using RMB without the need to convert to HKD.<\/p>\n\n\n\n

Analysts at\u00a0Sanford C. Bernstein<\/a>\u00a0said: \u201cThe cleaning up of\u00a0Macau\u2019s money flows<\/strong>, easier access to RMB transactions in the city, and\u00a0disintermediation of junkets<\/strong>\u00a0would be a positive driver for continued growth in stable mass and premium mass in Macau.\u201d<\/p>\n\n\n\n

In April, Lottery sales in China<\/a> <\/strong>reached CNY29.10bn which represents a rise of 24.4 per cent <\/strong>when compared to the previous year but a decline of 2.3 per cent month-on-month.<\/p>\n\n\n\n

Welfare Lottery sales<\/strong> were down 6.2 per cent <\/strong>at CNY11.16bn. Sports Lottery sales<\/strong> were up 56.3 per cent<\/strong> to CNY17.93bn.<\/p>\n\n\n\n

Sales of instant win games<\/strong> from the Welfare Lottery saw an increase of 111.0 per cent to CNY2.40bn. They generated CNY2.43bn for the Sports Lottery, up 103.1 per cent year-on-year.<\/p>\n\n\n\n

Keno sales <\/strong>brought in 14.2 per cent of the Welfare Lottery total revenue.<\/p>\n","protected":false},"excerpt":{"rendered":"

Lottery winners will receive 350,000 digital red envelopes containing 55 units of the Chinese central bank’s digital currency (CBDC) equivalent to $3m.<\/p>\n","protected":false},"author":176,"featured_media":18731,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"China is significantly expanding its Digital Currency Electronic Payment (DCEP) trials, including a large-scale digital yuan lottery in Shanghai and cross-border payment testing in Macau and Hong Kong. This initiative is expected to profoundly impact the Macau gaming industry by streamlining RMB transactions, potentially disintermediating junkets, and fostering growth in the mass and premium mass segments. Concurrently, China's lottery sector demonstrates robust year-on-year growth, particularly in sports and instant win categories.","focusai_entities":"People's Bank of China, Macau Gaming Research Association, Sanford C. Bernstein","focusai_location":"China, Shanghai, Beijing, Shenzhen, Chengdu, Suzhou, Macau, Hong Kong","focusai_target_profile":"ceo_executive (0.95), regulator (0.95), compliance_legal (0.9), operator_casino (0.95), product_ux (0.75), tech_data (0.85), payments_fraud_aml (0.95), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"CBDC Impact on Macau GGR?","query":"What are the projected GGR shifts for Macau's gaming verticals, specifically VIP versus mass market, following the full implementation of DCEP and the disintermediation of junkets?"},{"label":"Cross-Border CBDC Challenges?","query":"What specific regulatory, technical, and governance frameworks are being developed to ensure seamless and compliant cross-border CBDC payments between mainland China, Hong Kong, and Macau's gaming establishments?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23919,3573],"class_list":["post-18718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-cryptocurrencies","tag-lottery"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=18718"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18718\/revisions"}],"predecessor-version":[{"id":18751,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18718\/revisions\/18751"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18731"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=18718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=18718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=18718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}