The central bank held several working meetings to focus on scientific and technological innovation and the promotion of digital RMB
According to the disclosure on the official website of the people’s Bank of China, on March 30, 2022, the people’s Bank of China held a video conference on science and technology work in 2022. The meeting held that “in 2021, the people’s Bank of China… Made initial achievements in the reform of science and technology system and mechanism, and steadily promoted the innovative application of financial information technology”, “in 2022, we should… Strengthen the construction of network security system in the financial industry,… Improve information infrastructure and comprehensively improve the application capacity of new technologies”. On March 31, 2022, the people’s Bank of China held a symposium on the pilot work of digital RMB research and development. The meeting stressed that “the pilot scope should be expanded in an orderly manner, and six cities hosting the Asian Games in Tianjin, Chongqing, Guangzhou, Fujian, Fuzhou, Xiamen and Zhejiang should be added as pilot areas on the basis of the existing pilot areas”.
The financial technology development plan (20222025) leads the new demand of financial it
At the beginning of 2022, the people’s Bank of China issued the financial science and technology development plan (20222025), which defined the overall idea, development objectives, key tasks and implementation guarantee of financial digital transformation. From the perspective of development planning, the overall positioning of China’s financial technology has comprehensively entered a new stage of “accumulating strength and becoming potential” from the “column and beam”, with “accelerating the digital transformation of financial institutions as the main line”, and serving the digital transformation of financial institutions in an all-round way from the aspects of governance structure, development strategy, data elements, agile innovation, middle office construction, risk control mechanism, intelligent marketing, intelligent service and so on. Combined with the recent deployment of the people’s Bank of China for science and technology work in 2022, we believe that the current investment of the financial industry in the field of science and technology is expected to increase, and the prosperity of the financial science and technology sector is in the upward stage.
From the demand of the financial industry, the current main IT construction needs are concentrated in the following four parts: 1) new digital infrastructure and distributed system construction: including the construction of green and highly available data center, the construction of a new generation of core business system characterized by “distributed + micro service + cloud native”, and the digital transformation of new businesses such as intelligent marketing, intelligent risk control and open finance. 2) Key core technology and financial information innovation application: the popularization and application of distributed technology can fully unbind the “centralized” architecture, creating favorable conditions for the use of domestic databases, servers and operating systems; 3) Scale promotion of digital RMB: as the legal digital currency of the central bank, digital RMB has experienced two rounds of 10 + 1 pilot. With the implementation of the third batch of pilot cities, the breadth and depth of digital RMB application are expected to be further strengthened. 4) Data governance and data security construction: apply multi-party secure computing, federated learning, differential privacy and other technologies to explore a cross subject data security sharing privacy computing platform to realize orderly data sharing and security.
From the perspective of the industrial scale of financial technology, according to the statistics of CCID Consulting, the overall IT investment scale of Bank Of China Limited(601988) industry in 2020 reached 190635 billion yuan, once again setting a new high of growth rate in recent ten years. It is estimated that by 2025, the overall IT investment of Bank Of China Limited(601988) industry will reach 463784 billion yuan, and the average annual compound growth rate from 2021 to 2025 will reach 17.84%.
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.
