The central bank held a videoconference to orderly expand the pilot scope of digital RMB
According to the disclosure on the official website of the people’s Bank of China, on March 24, 2022, the people’s Bank of China held a 2022 Video Conference on currency, gold and silver and security. The meeting stressed that “in 2021, the people’s Bank of China’s cash security system… Successfully completed the task of cash supply and steadily promoted the pilot of digital RMB research and development”, “in 2022, the people’s Bank of China’s cash security system should… Solidly promote the pilot of digital RMB research and development, orderly expand the pilot scope, continuously improve the design and use, and gradually establish and improve the management system framework”. The pilot scope of digital RMB is expected to be expanded.
Digital RMB has experienced two rounds of pilot projects, and the current development has entered the fast lane
From the perspective of pilot cities, at the end of 2019, the central bank carried out the first batch of pilot tests of digital RMB in Shenzhen, Suzhou, xiong’an, Chengdu and 2022 Beijing Winter Olympics. From November 2020, six new pilot areas will be added: Shanghai, Hainan, Changsha, Xi’an, Qingdao and Dalian. At present, two rounds of 10 pilot cities and one pilot scenario have been running for nearly two years, and the application scenarios have also covered the fields of living payment, catering services, transportation, shopping consumption, government services and so on.
From the perspective of the use of digital RMB wallets, Zou LAN, director of the financial market department of the central bank, introduced at the press conference of the state information office on January 18 that “as of December 31, 2021, there have been more than 8.0851 million digital RMB pilot scenes, 261 million personal wallets have been opened, and the transaction amount is 87.565 billion yuan”. Combined with the relevant data as of June 30, 2021 disclosed in the previous white paper on the research and development progress of China’s digital RMB, the number of digital RMB pilot scenarios has increased from 1.32 million to 8.09 million in half a year, and the number of personal wallets has increased from 20.87 million to 261 million. The development has entered the fast lane.
Many financial industry development plans mention digital RMB, and the third batch of pilot areas are expected to land
The central bank teleconference indicates that the third batch of pilot areas is expected to be implemented within the year. We analyze the potential pilot areas by combing the “14th five year plan” development plans and relevant policies of the financial industry in various regions. According to the “14th five year plan” for the development of the financial industry in all provinces, Henan, Hubei, Fujian, Chongqing, Shaanxi, Tianjin and Zhejiang all mentioned “actively striving for the pilot of digital RMB” in the plan. In the implementation opinions on accelerating the high-quality development of platform economy, Heilongjiang Province proposed to “actively promote the pilot application of digital RMB in Heilongjiang Province”. In the 2022 government work report, Guangdong Province proposed to “accelerate the construction of Guangzhou digital economy pilot zone and promote the pilot settlement of digital RMB”. In addition, the opinions on financial support for high-quality development and building a demonstration area of common prosperity in Zhejiang jointly issued by the central bank, the China Banking and Insurance Regulatory Commission, the CSRC, the State Administration of foreign exchange and the Zhejiang provincial government mentioned that “support qualified regions to carry out digital RMB pilot projects”. Considering that the 19th Asian Games will be held in Hangzhou, Zhejiang Province in September 2022 (co organized by Ningbo, Wenzhou, Jinhua, Shaoxing and Huzhou), We believe that the Hangzhou Asian Games is expected to become another important window for the display of digital RMB after the Beijing Winter Olympics.
Suggested concern
Smart car: Thunder Software Technology Co.Ltd(300496) , Huizhou Desay Sv Automotive Co.Ltd(002920) , Autel Intelligent Technology Corp.Ltd(688208) , Arcsoft Corporation Limited(688088) , Vanjee Technology Co.Ltd(300552) .
Industrial software: Zwsoft Co.Ltd(Guangzhou)(688083) , Zhejiang Supcon Technology Co.Ltd(688777) , Shanghai Baosight Software Co.Ltd(600845) , dingyang technology, Shanghai Hollywave Electronic System Co.Ltd(688682) .
Xinchuang industry: Dawning Information Industry Co.Ltd(603019) , Inspur Electronic Information Industry Co.Ltd(000977) , Beijing Baolande Software Corporation(688058) , Beijing Tongtech Co.Ltd(300379) , Taiji Computer Corporation Limited(002368) .
Digital Finance: Digital China Information Service Company Ltd(000555) , Sinosoft Co.Ltd(603927) , Yusys Technologies Co.Ltd(300674) , Grg Banking Equipment Co.Ltd(002152) , Newland Digital Technology Co.Ltd(000997) .
Artificial intelligence: Iflytek Co.Ltd(002230) , Hangzhou Hikvision Digital Technology Co.Ltd(002415) , Zhejiang Dahua Technology Co.Ltd(002236) , Opt Machine Vision Tech Co.Ltd(688686) , shangtang-w.
Network security: Sangfor Technologies Inc(300454) , Dbappsecurity Co.Ltd(688023) , Venustech Group Inc(002439) , Nsfocus Technologies Group Co.Ltd(300369) , Qi An Xin Technology Group Inc(688561) – U.
Risk tips:
1) the epidemic situation intensifies and reduces the expenditure of enterprise informatization; 2) Fiscal and monetary policies are lower than expected; 3) The fluctuation of supply chain increases, which affects the development of science and technology industry.
