The digital renminbi enters closed testing, and the Central Bank emphasizes that it has not yet been officially issued.

Recently, the Digital Currency Research Institute of the People's Bank of China announced the latest progress regarding the digital renminbi. The institute stated that the information circulating online related to DC/EP is only test content from the technical development process and does not represent the official issuance of the digital renminbi. The ongoing closed testing will not impact the commercial operations of existing Financial Institutions, nor will it affect the renminbi issuance and circulation system, financial markets, and socio-economic conditions outside the testing scope.

It is reported that the research and development of the Digital Renminbi is steadily advancing. Under the basic principles of maintaining dual-layer operation, M0 substitution, and controllable anonymity, the Digital Renminbi system has basically completed key stages such as top-level design, standard formulation, function development, and joint debugging. Following the principles of stability, safety, controllability, innovation, and practicality, internal closed pilot tests are currently being conducted in regions such as Shenzhen, Suzhou, Xiong'an, and Chengdu, as well as in future Winter Olympics scenarios, with the aim of continuously optimizing and improving system functions.

This progress indicates that China is steadily advancing in the exploration of Digital Money while maintaining a cautious and rigorous attitude. By conducting tests within a limited scope, potential issues can be effectively identified and resolved, laying a solid foundation for possible large-scale promotion in the future. The development of the digital renminbi may have far-reaching impacts on China's financial system and even the global financial system, making this gradual approach particularly important.