In 2014, the People's Bank of China set up a special team to start special research on the digital currency issuance framework, key technologies, issuance and circulation environment and related international experience. At the end of 2017, the People's Bank of China organized some commercial banks and relevant institutions to jointly carry out the research and development of the Digital Yuan system (DC/EP). DC/EP has basically completed top-level design, standard setting, functional research and development, joint adjustment testing and other work under the premise of adhering to double-layer operation, cash (M0) replacement, and controllable anonymity. At the end of 2019, Digital Yuan successively launched pilot tests in Shenzhen, Suzhou, Xiong'an New District, Chengdu and future Winter Olympics scenarios. At the end of 2019, Digital Yuan pilot tests were launched in Shenzhen, Suzhou, Xiong'an New District, Chengdu and future Winter Olympics scenarios, and 6 pilot test areas were added in Shanghai, Hainan, Changsha, Xi'an, Qingdao and Dalian by October 2020. On April 19, 2020, the relevant person in charge of the Digital Currency Research Institute of the People's Bank of China said that the research and development of digital RMB is progressing steadily. First, internal closed pilot tests will be carried out in Shenzhen, Suzhou, "Xiong'an New District", Chengdu and future Winter Olympics scenarios in China to continuously optimize and improve functions. In July 2021, the Digital Yuan pilot has been expanded to "10+1", that is, "10 cities + 1 Winter Olympics scene". In December 2020, Yu Weiwen, President of Hong Kong Monetary Authority, published an article entitled "New Trends in Financial Technology - Cross-border Payments", pointing out that the HKMA is currently studying with the Digital Currency Research Institute of the Central Bank on the technical test of using digital RMB for cross-border payment and making corresponding technical preparations. According to 21 Finance Report, the pilot was tested by Bank of China (Hong Kong) and some bank employees (about 200), as well as merchants. On December 5, 2020, according to the official WeChat account of the Information Office of the Suzhou Municipal People's Government, the pilot work of Digital Yuan red envelopes carried out by the Suzhou Municipal People's Government and the People's Bank of China officially launched an appointment on the same day. The number of winning citizens has received 96614 red envelopes, accounting for 96.61% of the total number of winnings, and 536 people participating in the "double offline" payment experience. The amount of red envelopes consumed is 1896.82 million yuan, accounting for 94.84% of the total amount of red envelopes issued. There are more than 1 million offline merchants supported, and the red envelope amount of online consumption (JD Mall) is 847.82 million yuan, accounting for 44.70%. On December 29, 2020, Beijing's first central bank digital currency application scenario landed in Lize, Fengtai. On the morning of the same day, a coffee shop called Manmao Coffee launched a Digital Yuan application scenario test in Jintang Building west of Lize Bridge. Authorized consumers can already pay with digital RMB wallets. I have bought all kinds of goods. At midnight on February 7, 2021, Beijing launched the "Digital Wangfujing Ice and Snow Shopping Festival" Digital Yuan red envelope reservation activity, which distributes 1000 million yuan Digital Yuan red envelopes to individuals in Beijing, boost domestic demand and encourage "on-site New Year". On April 1, 2021, Wang Xin, director of the Research Bureau of the People's Bank of China, introduced at a press conference held by the State Council Information Office that the digital RMB will be mainly used for domestic retail payments. Previously, it has been tested in many pilot areas in China. The test scenarios are getting richer and richer, and it is also considered to meet market demand when conditions are ripe. For cross-border payment transactions, this can also be achieved. On April 10, 2021, Shenzhen launched a Digital Yuan pilot from today to the 23rd of this month, expanding the number of test population by another 50 million. This pilot mainly takes "using Digital Yuan to enjoy consumption discounts" as the core, with a total discount of 1000 million yuan. On May 8, 2021, the Digital Yuan access to Alipay added three sub-wallets, including Eleme and Hema. The digital RMB APP was updated, and the "EMB Bank (Alipay)" in the wallet operator has been available. In June 2021, Beijing, Shanghai, Changsha and other places successively launched a new round of digital RMB pilot activities. Among them, Beijing issued 20 million Digital Yuan red envelopes of 200 yuan each, Shanghai issued 35 million Digital Yuan red envelopes with an amount of 55 yuan each, and Changsha issued 30 million digital RMB red envelopes with a total amount of 400 million yuan. The red envelopes are divided into 100 yuan and 200 yuan. On June 28, 2021, according to a number of local media reports in Sichuan, Chengdu has completed system construction and preliminary testing by using the "Tianfutong App" to pay for Digital Yuan by bus and subway. On June 29, 2021, Suzhou Rail Transit Line 5 was officially put into operation. All station ticket vending machines support Digital Yuan App code scanning payment. This function is the first time in China to be launched. Baweitong Technology Co., Ltd. has carried out the transformation and upgrading of ticket purchase machines and the stability test of the official App "Suehang" payment interface on other lines. In the future, Suzhou Rail Transit Line 1-5 will open digital RMB payment for ticket purchase. On August 1, 2021, Beijing Rail Transit added applications that support Digital Yuan offline ticket purchase/card, supplementary ticket replenishment and recharge, as well as online ticket purchase in Yitong APP. This is an upgraded application after the Yitong APP supports Digital Yuan swipe payment on June 30. It realizes the full coverage of digital RMB in rail transit gates and ticket purchase payment scenarios, and will greatly improve the digital travel experience of passengers. On November 10, 2021, the General Office of the Hainan Provincial People's Government issued the Hainan Province's "Fourth Five-Year Plan" for Building an International Tourism Consumption Center. The plan proposes to speed up the promotion of Digital Yuan pilots and add foreign currency and RMB settlement and exchange service points.