China’s only legal digital currency

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Introduction to China’s only legal digital currency

1. In China, the only legal digital currency is [digital renminbi#] issued by the People’s Bank of China ##].

2. Digital RMB is a legal digital currency that has the same legal status as banknotes and coins and is issued and managed by the People's Bank of China.

3. It adopts a two-tier operation model, with the People's Bank of China issuing the basic layer and commercial banks and other operating institutions providing upper-layer services.

4. The launch of digital RMB aims to improve payment efficiency, promote financial inclusion, and provide support for the development of China’s digital economy.

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