Deputy Governor of the Central Bank: The People's Bank of China launched research on digital currencies and research and development of fiat digital currencies (DC / EP) five years ago

On December 21, the 2019 Annual Meeting of the China Finance Association and the China Finance Forum Annual Meeting were held in Beijing. Chen Yulu, deputy governor of the People ’s Bank of China, said at the meeting that five years ago, the People ’s Bank of China initiated research on digital currencies and legal digital currencies (DC / EP) research and development. On the one hand, it is necessary to strengthen the adaptability of the fiat currency system to the future digital economy ecology; on the other hand, it is also necessary to meet the challenges of the global stablecoin. Of course, the issuance of sovereign digital currencies also has a “narrow sense of bank” effect, which requires us to provide corresponding theoretical innovation results and corresponding policies.