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China is hoping to drive cross-border use of its sovereign digital currency by offering shopping discounts to tourists from Hong Kong who open and pay with e-CNY wallets in the neighbouring city Shenzhen.
Hong Kong residents can now obtain a physical e-CNY card via a dedicated machine at the Lo Wu border crossing, according to a report by the state-backed Shenzhen News.
The card, issued by the Bank of China and marked “Greater Bay Area”, can be issued within minutes and topped up using an Octopus card – Hong Kong’s dominant cashless payments system for public transport and retail.