Shulou(Shulou.com)11/24 Report--

CTOnews.com, October 12, the Institute of Digital money of the Central Bank said in an article that since the 19th CPC National Congress, the people's Bank of China has solidly carried out various pilot work on the research and development of digital RMB, adhering to the principles of the people's nature, marketization and the rule of law, and has gone through three stages of theoretical research, closed-loop testing, and open pilot, to promote the development of digital RMB in line with China's national conditions.

The article said that so far, the people's Bank of China has selected some areas of 15 provinces (cities) to carry out digital RMB pilot projects, and a comprehensive evaluation has identified 10 designated operating institutions. The top-level design such as digital RMB two-tier operation architecture has passed all-round testing, and its feasibility and reliability have been effectively verified. The open digital RMB ecology and competitive selection mechanism not only effectively mobilize the enthusiasm of market institutions, but also create a good environment for fair competition.

CTOnews.com has learned that digital RMB has formed a large number of replicable and popularizing application models in the fields of wholesale and retail, catering, culture and travel, education and health care, and public services. As of August 31, 2022, the total number of transactions in the pilot areas of 15 provinces (cities) was 360 million, with a total amount of 100.04 billion yuan, and the number of merchant stores supporting digital RMB exceeded 5.6 million.

The article points out that we will continue to promote the sustained and healthy development of digital RMB business. We will support giving full play to the advantages of digital RMB in public areas such as finance, taxation and government affairs, and provide advanced payment services for the government's digital and intelligent governance. To achieve the interconnection between the digital RMB system and traditional electronic payment tools, so that consumers can "sweep in one code", and merchants can support all kinds of payment tools without increasing costs as far as possible. We will continue to promote the building of barrier-free and aging-friendly digital RMB, and improve the system of standards and standards for barrier-free products. We will continue to deepen international cooperation and deeply participate in the construction of international governance in the field of digital currency.

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