Starting in May, government employees of the Chinese city of Changshu will be paid salaries in CBDC.
, is to establish an efficient and convenient digital RMB operation and management system by 2025.The Chinese government’s push for CBDC adoption has not been well-received by Honk Kong residents. In the first four days of the digital yuan hard wallet launch, only 625 Hongkongers had signed up.
The lack of adoption was evident despite a 20% discount on purchases from 1,400 local vendors — subsidized for the CBDC owners by the government.
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