China News Agency, Beijing, August 25 (Reporter Wei Xi) Has China launched a digital currency countdown? Recently, there have been constant voices about China's launch of a digital currency, and it seems that it is only a step forward. In response, Sun Guofeng, Director of the Monetary Policy Department of the People’s Bank of China, responded at the State Council’s policy briefing on the 25th: There is no timetable for the official launch.
Sun Guofeng said that at present, the digital RMB research and development work is following the principles of "steady, 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, functional availability, process convenience, scenario applicability and risk controllability. At present, the digital renminbi is still in the internal closed pilot test stage and has not been officially launched.
On August 25, the State Council Information Office held a regular briefing on the State Council’s policies in Beijing to introduce financial institutions’ support for the implementation of the real economy policies. Sun Guofeng, Director of the Monetary Policy Department of the People's Bank of China, responded to the question "Is China launching a digital currency?" There is no timetable for the official launch. Photo by China News Agency reporter Zhang Yu
He said that in the next step, the People's Bank of China will continue to steadily advance the digital renminbi research and development test work, and there is no timetable for the official launch of the digital renminbi.
The People's Bank of China has been studying legal digital currencies since 2014. 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 (DC/EP). (Finish)