TechFlow news — On March 24, 2022, the People's Bank of China held a televised conference on its 2022 monetary and cash management as well as security work. The meeting summarized achievements from 2021, analyzed current situations, and outlined key tasks for 2022.
The meeting emphasized ensuring adequate cash supply, establishing a long-term mechanism to address refusal of cash payments, improving the cleanliness of circulating RMB banknotes, and strengthening defenses against counterfeit currency. It called for steady advancement in the research and pilot programs of the digital RMB, orderly expansion of pilot coverage, continuous improvement in design and usability, and gradual establishment of a comprehensive management framework.
The meeting also stressed enhancing cash business supervision over banking institutions, improving the issuance management of ordinary commemorative coins and precious metal commemorative coins, promoting transformation in the PBOC’s banknote processing, vault operations, and security management, and simultaneously advancing the investigation of non-standard gold and silver items along with research on monetary history. It required strict adherence to frugality principles, continuous refinement of internal and external management systems, and strengthened oversight, constraints on power, and internal governance.
