Hainan will issue digital RMB red envelopes, and tax-free consumption in outlying islands is available – yqqlm

IT House reported on May 3, according to Chinanews.com, Hainan Province launched a digital renminbi duty-free shopping full reduction activity, and plans to issue 10 million yuan of digital renminbi consumer coupons in May to help boost the island’s duty-free consumer market after the epidemic recovers.

It is reported that the digital renminbi issued by Hainan this time is presented in the form of coupon reduction after consumption, with a face value of 30 yuan, 300 yuan, and 500 yuan respectively. Hainan has invested through 5 banks including Bank of China, and consumers can use it through digital renminbi wallets.

When travelers from inside and outside Hainan Province leave using digital RMB to pay for tax-free consumption orders, they can enjoy different amounts of reduction or exemption according to the order amount. In addition, some e-commerce platforms have also issued digital RMB discounts to residents in the province. After downloading the relevant e-wallets, consumers can obtain a 40-yuan digital RMB consumption package.

IT House understands that the digital renminbi is a digital form of legal tender issued by the People’s Bank of China. Participated in the operation by designated operating agencies, based on the generalized account system, supports the loose coupling function of bank accounts, is equivalent to physical RMB, has value characteristics and legal compensation, and supports controllable anonymity. The digital renminbi currently only supports pilot tests in Beijing, Shanghai, Shenzhen and other provinces and cities, but Hainan is an island-wide pilot.