Central Bank: As of the end of June, the cumulative transaction amount of digital RMB was nearly 7 trillion yuan

Lu Lei, deputy governor of the People's Bank of China, said at a press conference of the State Council Information Office on September 5 that China's research and development of a digital RMB system aims to create a new type of RMB issuance and operation system in digital form to meet the conditions of the digital economy. This is an all-round reform to support the development of China's digital economy, improve the level of inclusive financial development, and improve the operation efficiency of the currency and payment system. After more than 6 years of research and development and more than 4 years of pilots, the feasibility and reliability of the digital RMB in theoretical business and technology have been preliminarily verified, and efforts have been made to make the digital RMB more compatible with the digital economy. Overall, the progress is very smooth. As of the end of June this year, the cumulative transaction amount of the digital RMB was nearly 7 trillion yuan. (Securities Times)