Lu Lei: The future digital renminbi will have the liability attributes of commercial banks, possessing functions such as a monetary value scale, value storage, and cross-border payment.

ChainCatcher message, according to Jin10 data, the Vice Governor of the People’s Bank of China, Lu Lei, stated that the future digital renminbi will be a modern digital payment and circulation method issued and circulated within the financial system, with the central bank providing technical support and regulatory oversight, and possessing the liabilities attribute of commercial banks. It will be account-based, compatible with distributed ledger technology features, and have functions such as a monetary value scale, value storage, and cross-border payment capabilities. Looking ahead, the business and technical model choices for digital renminbi will adhere to the fundamental principle of meeting the needs of the real economy. The development direction of account-based and value-based digital currencies will follow a principle of inclusive acceptance and cautious selection, promoting digital renminbi to meet the needs of different scenarios and different business entities.