Chinanews client, September 14th. Fan Yifei, deputy governor of the central bank, recently published an article "Analysis of Policy Implications for the Positioning of Digital RMB M0" in the Financial Times.
The article stated that the digital renminbi is mainly positioned at M0, which is a digital form of legal tender.
The digital renminbi does not count interest and is non-profit, pursuing the maximization of social benefits and social welfare.
Therefore, the People's Bank of China implements a free strategy consistent with cash for digital renminbi.
The central bank establishes a free digital renminbi value transfer system and financial infrastructure, and does not charge exchange and circulation service fees from the issuer, and commercial banks do not charge individual customers for digital renminbi exchange and redemption service fees.