<![CDATA[<figure class="image"><img src="https://cimg.co/news/124026/327653/adobestock-54722231.jpeg" alt="Signs that read: &amp;quot;Recyclable&amp;quot; and &amp;quot;Unreductible&amp;quot; in both English and Chinese." srcset="https://cimg.co/news/124026/327653/responsive-images/adobestock-54722231___media_library_original_1500_1000.jpeg 1500w, https://cimg.co/news/124026/327653/responsive-images/adobestock-54722231___media_library_original_1200_800.jpeg 1200w, https://cimg.co/news/124026/327653/responsive-images/adobestock-54722231___media_library_original_900_600.jpeg 900w, https://cimg.co/news/124026/327653/responsive-images/adobestock-54722231___media_library_original_720_480.jpeg 720w, https://cimg.co/news/124026/327653/responsive-images/adobestock-54722231___media_library_original_600_400.jpeg 600w, https://cimg.co/news/124026/327653/responsive-images/adobestock-54722231___media_library_original_300_200.jpeg 300w" width="1500" class="content-img"><figcaption>Source: CE Photography/Adobe</figcaption></figure>A <a href="https://cryptonews.com/tags/china">Chinese</a> commercial bank has launched new <a href="https://cryptonews.com/tags/https://cryptonews.com/tags/digital-yuan/">digital yuan</a>-powered recycling rewards programs, with citizens receiving <a href="https://cryptonews.com/tags/https://cryptonews.com/tags/digital-yuan/">CBDC</a> tokens in exchange for recycling their waste.Per Danzong, via <a href="http://www.news.cn/2023-08/31/c_1212262271.htm" rel="nofollow">Xinhua</a>, the Qingdao Branch of the Bank of Communications has launched a CBDC-powered rewards solution.The bank debuted its solution in conjunction with the city&rsquo;s household waste disposal provider Jiaoyun Beijie.In the past, similar local government programs have sought to give citizens &ldquo;points&rdquo; in exchange for using recycling programs.But the new Qingdao solution will instead look to reward them with the country&rsquo;s digital fiat.If the city&rsquo;s residents put the correct items in local government-assigned recycling bins, the waste disposal firm will automatically enter citizens in a draw.Winners, selected at random, will be handed &ldquo;small&rdquo; quantities of coins.The coins will be delivered directly to &ldquo;winning&rdquo; residents&rsquo; digital yuan wallets.<figure class="media"><oembed url="https://twitter.com/scottbolshevik/status/1698008225688289310"></oembed></figure><h2 id="digital-yuan-carbon-points-new-ground-for-chinas-cbdc">Digital Yuan + Carbon &lsquo;Points:&rsquo; New Ground for China&rsquo;s CBDC?</h2>The firm thinks the drive will incentivize the correct use of recycling programs, as well as boosting &ldquo;green household drives&rdquo; and environmental efforts in the city.It claimed that the project would help create a &ldquo;greener, low-carbon ecological system&rdquo; in Qingdao.The bank&rsquo;s branch in the city has claimed its goal is to &ldquo;turn waste recycling into a new trend&rdquo; and encourage &ldquo;low-carbon living.&rdquo;The bank&rsquo;s Qingdao team claimed it would further &ldquo;continue to integrate the digital CNY&rdquo; with its new &ldquo;inclusive finance&rdquo; and &ldquo;green financing&rdquo; products.The Bank of Communications is one of China&rsquo;s oldest banks.It is roughly 50% owned by Chinese state organs, although the international banking heavyweight HSBC owns a 19% stake in the company.It has been particularly active in the CBDC loans space, and its Yuzhou branch recently issued a local IT firm an e-CNY loan worth some $700,000 million e-CNY.And in May this year, it went on to issue Hunan Province&rsquo;s first CBDC loan to a tech startup, <a href="https://cryptonews.com/news/hunan-province-china-debuts-digital-yuan-loans-for-small-businesses-another-cbdc-first.htm">providing a new firm some $87,000 worth of digital yuan</a>.China began promoting &ldquo;zero-waste cities&rdquo; and recycling programs in 2019, with the goal of radically reducing the amount of waste going to landfill sites. &nbsp;<figure class="image"><img src="https://cimg.co/news/124026/327654/small-sorted-waste-contai.jpg" alt="Colored recycling bins in Shanghai, China." srcset="https://cimg.co/news/124026/327654/responsive-images/small-sorted-waste-contai___media_library_original_1024_361.jpg 1024w, https://cimg.co/news/124026/327654/responsive-images/small-sorted-waste-contai___media_library_original_900_317.jpg 900w, https://cimg.co/news/124026/327654/responsive-images/small-sorted-waste-contai___media_library_original_720_254.jpg 720w, https://cimg.co/news/124026/327654/responsive-images/small-sorted-waste-contai___media_library_original_600_212.jpg 600w, https://cimg.co/news/124026/327654/responsive-images/small-sorted-waste-contai___media_library_original_300_106.jpg 300w" width="1024" class="content-img"><figcaption>Recycling bins in Shanghai, China. (Source: WQL [<a href="https://creativecommons.org/licenses/by-sa/3.0/deed.en">CC BY-SA 3.0</a>])</figcaption></figure>Last week, JD Technology, the IT services arm of the e-commerce giant JD.com (also known as Jindong), announced it was <a href="https://cryptonews.com/news/chinas-jd-icbc-launch-digital-yuan-supply-chain-financing-solution.htm">co-launching a digital yuan supply chain financing solution with another major state-run bank, the Industrial and Commercial Bank of China (ICBC)</a>.Another state-run commercial bank, the <a href="https://cryptonews.com/news/jdcom-bank-of-china-join-mainland-china-hong-kong-digital-yuan-pilot.htm">Bank of China</a>, is <a href="https://cryptonews.com/news/jdcom-bank-of-china-join-mainland-china-hong-kong-digital-yuan-pilot.htm">currently working on Hong King-based e-CNY solutions, also in conjunction with JD</a>.
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Chinese Bank Uses Digital Yuan Giveaway to Promote Waste Recycling Drive

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