China News Service, August 25. Sun Guofeng, Director of the Monetary Policy Department of the People's Bank of China, introduced on August 25 that at present, the digital renminbi is still in the stage of internal closed pilot testing and has not yet been officially launched. In the next step, the People's Bank of China will continue to steadily advance the research and development of digital renminbi, and there is no timetable for the official launch of the digital renminbi.
At the State Council's regular policy briefing held on the 25th, a reporter asked about the issue of digital currency. Sun Guofeng introduced that the digital currency developed by the People's Bank of China is now called the digital renminbi. At the end of 2017, with the approval of the State Council, the People's Bank of China organized some powerful commercial banks and related institutions to jointly develop the digital renminbi system, the so-called DC/EP research and development. At present, the digital renminbi research and development work is following the principles of “stable, safe, controllable, innovative, and practical”. Internal closed pilot tests are conducted in Shenzhen, Suzhou, Xiongan, Chengdu and future Winter Olympic scenes to verify theoretical reliability, System stability, function availability, process convenience, scenario applicability and risk controllability.
Sun Guofeng said that the digital renminbi is still in the stage of internal closed pilot testing and has not yet been officially launched. In the next step, the People's Bank of China will continue to steadily advance the research and development of digital renminbi, and there is no timetable for the official launch of the digital renminbi.