The upcoming issue of regulated digital currency (CBDC) in China is widely perceived by society.
Many people fear that after the launch of the digital version of the renminbi, inflation will surge. That may lead to further economic difficulties.
The representative of the People's Bank of China at the end of last week made an official statement in connection with the upcoming release of the coin.
He emphasized that the testing of the digital renminbi was carried out in four major cities of the country - Suzhou, Xionang, Chengdu, and Shenzhen. The tests were successful, therefore, the risks of any negative consequences after the launch of the token are minimal.
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The official said: "Closed testing of the digital renminbi will not affect the business activities of institutions, as well as the RMB issuance and circulation system, the financial market, and the economy outside the test environment."
To minimize the risks of inflation, Halyk Bank plans to redeem part of the reserves of companies and institutions and give them the right to launch an equivalent number of tokens before the CBDC official release. Thus, it is planned to balance the situation on the market and prevent a surge in inflation.
Note that recently, one of the participants in the project to create the currency - the Agricultural Bank has introduced a test version of the platform interface for operations with CBDC.