TechFlow News — Mu Changchun, director of the Digital Currency Research Institute at the People's Bank of China, stated that digital RMB should adhere to centralized supervision by the central bank and emphasized the following aspects: First, centrally manage the issuance quota of digital RMB to ensure 100% reserve backing and prevent over-issuance. Second, establish unified business standards, technical specifications, security standards, and application standards to avoid payment barriers. Third, centrally manage digital RMB-related information. Fourth, centrally coordinate the development of digital RMB issuance infrastructure to achieve interconnectivity across operating institutions and prevent payment barriers. (China Business Journal)
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