The people’s Bank of China recently said that it will solidly promote the pilot research and development of digital RMB, orderly expand the scope of the pilot, continuously improve the design and use, and gradually establish and improve the management system framework.
Experts believe that more regions will be included in the pilot scope of digital RMB in the next step. In the future, with the gradual liberalization of pilot areas and scenarios, industrial chain companies involving digital RMB hardware, software products or systems will benefit significantly.
orderly expand the pilot scope
At present, digital RMB has been piloted in retail transactions, living payment, government services and other scenarios.
Zou LAN, director of the financial market department of the people’s Bank of China, said recently that as of December 31, 2021, there had been more than 8.0851 million digital RMB pilot scenarios, 261 million personal wallets had been opened, and the transaction amount was 87.565 billion yuan.
From the perspective of pilot areas, at present, the people’s Bank of China has carried out digital RMB pilot projects in Shenzhen, Suzhou, xiong’an, Chengdu, Shanghai, Hainan, Changsha, Xi’an, Qingdao, Dalian and the scene of the 2022 Beijing Winter Olympic Games, basically covering the Yangtze River Delta, Pearl River Delta, Beijing Tianjin Hebei, central, western, northeast, northwest and other different regions.
In addition, many places are actively striving to carry out the pilot, revealing some trends of “orderly expansion of the pilot scope”. So far, Henan, Fuzhou, Chongqing, Sichuan, Jiangsu, Tianjin, Shanghai, Guangdong, Zhejiang and other places have announced that they will strive to carry out RMB pilot into the local “14th five year plan”.
For example, for Suzhou, Jiangsu, which is already within the scope of the digital RMB pilot area, the next step is to expand the pilot scene and build the mechanism. The 14th five year financial development plan of Jiangsu Province has specially set up a column to promote the pilot of digital RMB, including improving the overall planning, coordination and promotion mechanism of the pilot work of digital RMB in Suzhou, supporting the pilot of innovative ideas and demonstration scenes in Xiangcheng District of Suzhou, etc.
For another example, Fuzhou, which has not been included in the digital RMB pilot, is actively striving for the pilot. As mentioned in the special plan for the development of financial industry in the 14th five year plan of Fuzhou, we will actively strive for the pilot of digital RMB by the central bank and explore the establishment of new factor trading institutions such as digital assets.
“More regions join the pilot, which will help to test and apply digital RMB on a larger scale, test the performance of digital RMB system in depth, and help more users experience the charm of digital RMB in advance.” Dong ximiao, chief researcher of Zhaolian finance, said that the Hangzhou Asian Games will be held in September 2022. The Asian Games scene should be included in the pilot scope, and the digital RMB should be applied to overseas people again after the Winter Olympics.
welcome investment opportunities in many fields
Looking forward to the future, experts said that as the pilot enters the “third stage” covering more regions and a wider population in the future, digital RMB will put more emphasis on the in-depth penetration of people’s daily life. At this stage, the trend of the integrated development of digital RMB and the Internet will be more significant. The Internet platform with rich consumption scenes is bound to play a more important role in promoting the popularization of digital RMB. The coordinated development and deep integration of the two will also achieve a “win-win” situation.
From the perspective of commercial banks, Dong ximiao said that the digital RMB may amplify the capacity differences of commercial banks and aggravate the “Matthew effect”. Commercial banks should accelerate their integration into the digital RMB ecosystem, invest in digital RMB system development, product design, scene expansion, market promotion, operation and maintenance, and make preparations for the official issuance of digital RMB.
From the perspective of digital RMB industrial chain company, Wang Weiyi, an analyst at Ping An Securities, said that in the future, with the gradual liberalization of pilot areas and scenarios, C-end applications will gradually expand to b-end applications, bringing better payment experience and rich cross-border payment scenarios. Relevant industrial chain companies involving digital RMB hardware, software products or systems will obviously benefit.
According to Wang Weiyi’s analysis, on the one hand, hardware manufacturers may benefit from the market opportunities brought by digital RMB. With the increasing acceptance of digital RMB, relevant digital RMB hardware developers will have the opportunity to obtain more relevant orders and promote performance improvement. On the other hand, software manufacturers may benefit from the business growth brought by the upgrading of the financial system. Because the operation mechanism of digital RMB is different from that of traditional mobile payment, relevant financial institutions need to upgrade the matching of relevant software systems, which will bring huge demand for system upgrading for relevant software manufacturers.
In terms of investment scale, Anxin Securities said that the transformation of digital RMB is expected to drive the investment scale of more than 100 billion yuan. It is suggested to pay attention to the investment opportunities of relevant listed companies such as financial equipment enterprises, bank IT enterprises, Payment institutions, encryption algorithm enterprises and application scenario enterprises.
China Merchants Securities Co.Ltd(600999) believes that digital RMB is one of the key tracks this year. The upgrading of terminal hardware is expected to bring a market scale of 10 billion; The extension of application scenarios overseas will expand overseas development opportunities for digital RMB IT solution providers.
Minsheng Securities said that the digital RMB will bring deterministic opportunities to participants in the issuance and circulation links. The issue link mainly involves the construction of bank it system, and the circulation link mainly involves the construction of software and hardware ecology.
