Central Bank: Phased progress in research and development of electronic payment instruments with digital currency characteristics

Recently, the central bank said in the "People's Bank of China Annual Report 2018" that it will promote the central bank's digital currency research and development in an orderly manner to prevent the risk of virtual tokens. The central bank said that it closely follows the international dynamics of central bank digital currency research and actively participates in international exchanges. Steadily and orderly organized commercial organizations to jointly develop electronic payment instruments (DC/EP) with digital currency characteristics, and made progress in stages. In addition, the central bank has established special working groups such as legal digital currency, green finance, and financial IT infrastructure to promote the preparation of financial standards in related fields.