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Virtual control: The agenda behind China s new digital currency 13 minutes to read By: James Kynge and Sun Yu The planned e-yuan could boost Beijing s surveillance state and create competition for private fintech groups Celebrations in China to mark the lunar new year of the Ox, which began on February 12, have been somewhat muted because of the coronavirus pandemic. The numbers of people travelling to visit relatives this year are down sharply, depriving family gatherings of a measure of joy. But it is not all gloom. Authorities in several cities have given away tens of millions of renminbi as new year red packets that can be downloaded on to a smartphone. Beijing and Suzhou alone have doled out 200,000 red packets worth Rmb200 (US$31) each in a public lottery.

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