Chinanews client, July 16th (Li Jinlei) On July 16, the central bank released the "White Paper on China's Digital RMB R&D Progress."

The white paper pointed out that the digital renminbi is mainly positioned as a cash payment voucher (M0), and will coexist with the physical renminbi for a long time.

Both digital renminbi and physical renminbi are liabilities of the central bank to the public and have the same legal status and economic value.

The digital renminbi will be issued in parallel with the physical renminbi, and the People's Bank of China will make statistics, collaborative analysis, and overall management of the two.

As long as there is a demand for physical renminbi, the People's Bank of China will not stop the supply of physical renminbi or replace it with administrative orders.