On December 24, six departments including the people’s Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission and the State Administration of Foreign Exchange jointly issued the plan for Chengdu and Chongqing to jointly build a western financial center. The plan proposes that by 2025, the western financial center will be preliminarily completed, and by 2035, the status of the western financial center will be more consolidated. The plan defines seven tasks, including optimizing regional multi-level capital market services, and puts forward a series of safeguard measures.
The plan proposes to build a highland of financial science and technology development in China (West). Promote the integration and sharing of government data and financial data. Promote the leading development of financial technology research, carry out the research and development of basic, common and key technologies and major application pilot demonstration in the field of financial technology, and promote the first implementation and application of research achievements in the field of financial technology such as artificial intelligence, big data, cloud computing and blockchain in Chengdu and Chongqing. Support Chengdu to steadily promote the pilot of digital RMB, carry out research on digital RMB and innovative application of mobile payment, and expand the application scenarios of digital RMB.
Chuancai Securities pointed out that the plan focuses on financial services in the field of scientific and technological innovation, proposes to support Chengdu to accelerate the construction of an intellectual property financing service platform based on blockchain technology, and creatively proposes to explore and promote market-oriented valuation and transformation financing of scientific and technological achievements, which will be beneficial to “R & D” enterprises. In addition, the plan also mentioned to steadily promote the pilot of digital RMB, accelerate the implementation of research achievements in financial technology fields such as blockchain, and pay attention to the direction of digital RMB.
Galaxy Securities believes that, on the one hand, China focuses on developing the digital economy industry. It is expected that by 2025, the scale of China’s digital economy market will reach 78.88 trillion yuan, accounting for 55.34% of China’s GDP; On the other hand, the substitution of digital RMB for paper money can effectively save costs and achieve cost reduction and efficiency increase in digital economy. At the same time, the promotion of digital RMB can further improve the payment ceiling and bring the renewal cycle of POS and ATM machines. The localization of software and hardware superimposed by bank IT manufacturers will take the lead in benefiting from the implementation of digital RMB. At the same time, with the penetration and diversification of scenarios, multi business support units such as b-end / C-end will also enjoy investment opportunities. It is suggested to pay attention to: Koal Software Co.Ltd(603232) , Westone Information Industry Inc(002268) , Digital China Information Service Company Ltd(000555) , Client Service International Inc(300663) , Shenzhen Sunline Tech Co.Ltd(300348) , Tansun Technology Co.Ltd(300872) , Grg Banking Equipment Co.Ltd(002152) , Newland Digital Technology Co.Ltd(000997) , Xgd Inc(300130) .
(Securities Times)
