Chinese online retail platform reported 400 million yuan (US$60 million) in digital yuan sales at the “618” shopping festival, accounting for about 0.1% of the event’s total sales. 

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Fast facts

  • China’s central bank digital currency (CBDC), the digital yuan or e-CNY, started pilot trials in Shenzhen in October 2020 and has since expanded to 23 cities.
  • The 618 festival saw an estimated 379 billion yuan in sales this year.
  • Digital yuan transactions at the festival — which starts on June 1 and concludes on June 18, the day of the company’s founding — exceeded CBDC sales volume recorded by the retailer between December 2020 and May 2022, fintech arm JD Technology (JDT) said. 
  •’s total sales during the shopping festival rose 10.3%, well below the 27.7% increase in 2021’s celebration, which was the slowest pace of growth recorded by, according to Reuters.
  • China’s retail sales in May slumped 6.7% from a year ago. 

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