Up to now, the People's Bank of China has selected parts of 15 provinces (municipalities) to carry out digital RMB pilot programs, and has identified 10 designated operating organizations after a comprehensive evaluation.

Up to now, the People's Bank of China has selected parts of 15 provinces (municipalities) to carry out digital RMB pilot programs, and has identified 10 designated operating organizations after a comprehensive evaluation. The top-level design of digital RMB, such as the two-tier operation structure, has passed all-around testing, and its feasibility and reliability have been effectively verified. The open digital RMB ecological and competitive selection mechanism not only effectively mobilizes the enthusiasm of market institutions but also creates a good environment for fair competition.

Digital RMB has formed a large number of online and offline application models that can be replicated and promoted in the fields of wholesale and retail, catering, culture and tourism, education and medical care, and public services. By August 31, 2022, the pilot areas in 15 provinces (municipalities directly under the central government) had a total of 360 million transactions worth RMB10.04 billion, and the number of merchant stores supporting digital RMB exceeded 5.6 million.