PwC CN: The business impliions of China's digital RMB
October 2020. At the end of May 2020, the People's Bank of China (PBOC) Governor Yi Gang disclosed the latest progress on digital RMB. Toplevel design, standardisation, research and development and joint trials have been completed based on the ideas of a hybrid model, digital currency as a complement to M0 (physical bank notes and coins in circulation) and controlled .