The 2022 working meeting of the central bank pointed out that the digital RMB R & D pilot will be steadily and orderly promoted this year. At the beginning of the new year, the digital RMB (pilot version) app will be put on the shelves and set off a wave of experience upsurge. The upcoming Beijing Winter Olympic Games will become an important opportunity for the digital RMB pilot, and the digital RMB sector has continued to strengthen recently.
Guotai Junan Securities Co.Ltd(601211) according to the research report, the digital RMB sector may be further catalyzed by the pilot of the Winter Olympic scenario, and head players with overall solutions and close banking services have more opportunities to get more shares. However, many listed companies said that they are unable to estimate the revenue related to digital RMB.
app downloads have soared, and there are still restrictions at this stage
As of press time, the number of downloads of digital RMB (pilot version) app in Huawei application market, Xiaomi application store and oppo software mall has exceeded 6 million times, 2.6 million times and 760000 times respectively. Compared with the number of downloads by users less than 10000 times on the first day of the launch of Huawei’s app store on January 4, the number of downloads of digital RMB (pilot version) app has increased rapidly in the past week.
Pan Helin, member of the information and communication economy expert committee of the Ministry of industry and information technology and executive director of the Digital Economy Research Institute of Central South University of economics and law, said in an interview with the financial associated press, “The large-scale promotion of digital RMB is due to its convenience and security. In terms of convenience, the current digital RMB app is very convenient to enter various application malls, obtain channels and use methods; in terms of security, compared with other payment tools, it has controllable anonymity, which can protect the payer’s information from being known by the platform and ensure the user’s information security. These Advantages are the basis for the popularization of digital RMB in the future.
The digital RMB (pilot version) app shows that digital RMB is piloted in Shenzhen, Suzhou, xiong’an, Chengdu, Shanghai, Hainan, Changsha, Xi’an, Qingdao, Dalian and the Winter Olympic Games (Beijing, Zhangjiakou); At present, users can open Industrial And Commercial Bank Of China Limited(601398) , Agricultural Bank Of China Limited(601288) , Bank Of China Limited(601988) , China Construction Bank Corporation(601939) , Bank Of Communications Co.Ltd(601328) , Postal Savings Bank Of China Co.Ltd(601658) , China Merchants Bank Co.Ltd(600036) , network business bank (Alipay), micro public bank (WeChat payment) and other 9 operators’ purse.
Pan Helin told reporters, “(App) The launch has brought a lot of expectations to the people all over the country. Of course, there are still many restrictions at this stage, such as designated pilot areas, white lists, etc. In addition, the inclusion of app into the wallet opening function of e-commerce banks, Weizhong banks and other institutions also provides the possibility to promote online wallet opening in the future. The main function of digital RMB is to improve the level of financial facilitation, while online alternative offline can greatly reduce the opening threshold and attract a large number of users. However, due to the current need for offline processing, and these Internet banks have few offline outlets, they can\’t reflect their advantages. “
Pan Helin put forward suggestions on this. On the one hand, “expand the scope of the pilot area as soon as possible and let more people participate in the pilot, which is also some tests on the technical level. You can see the carrying capacity of digital RMB to deal with payment”; On the other hand, “we need to consider the problem of opening an account online, establish a service organization, deal with the real-time problems caused by digital RMB and receive feedback, and simplify the use process of APP on the premise of taking into account security”.
there will be more than 400000 landing scenes of the Winter Olympic Games, with limited contribution to the profits of listed companies
The reporter noted that the upcoming winter Olympics will be an important opportunity for the pilot of digital RMB.
On January 10, the 2022 working meeting held by the operation and Management Department of the central bank pointed out that the pilot of digital RMB Winter Olympics scenarios will be steadily promoted, the full coverage of seven scenarios will be realized, and three large-scale digital RMB pilot activities will be carried out, with 403000 landing scenarios and a transaction amount of 9.6 billion yuan. Previously Bank Of China Limited(601988) official wechat said that the construction of digital RMB acceptance environment within the Winter Olympic security red line was promoted simultaneously with the construction of venues, and the seven categories of scenes outside the Winter Olympic security red line, such as transportation, catering and accommodation, shopping and consumption, tourism, medical and health care, communication services, ticketing and entertainment, were fully covered.
Pan Helin told reporters, “the key to the Winter Olympics is to see the combination of digital RMB and offline scenes in combination with the ticketing system. It mainly tests the affordability of the digital RMB system in the case of centralized release of offline traffic and whether it can support large and centralized payment needs”. Pan Helin further pointed out that the Winter Olympics is also a display for multinational users to explore the multinational application scenarios of digital RMB in the future.
Near the opening of the Winter Olympics, the promotion of bank app wallet and hardware wallet is progressing smoothly, including the layout of many listed companies, including Grg Banking Equipment Co.Ltd(002152) (002152. SZ), Newland Digital Technology Co.Ltd(000997) (000997. SZ), Feitian Technologies Co.Ltd(300386) (300386. SZ), Chase Science Co.Ltd(300941) (300941. Sz), Lakala Payment Co.Ltd(300773) (300773. SZ), Chutian Dragon Co.Ltd(003040) (003040. SZ).
The relevant person in charge told reporters, “The company has participated in the application projects of digital RMB smart teller machines in many off campus scenes such as the airport and customs, such as winning the bid for the first hardware equipment bidding project in the field of digital RMB that the head office of BOCOM plans to promote in the scene of the Winter Olympic Games, and the digital RMB smart teller machines jointly built with CCB have been piloted and launched in large airports in Beijing.”
Newland Digital Technology Co.Ltd(000997) the relevant person in charge told reporters, “for the Winter Olympics, we first do the construction of acceptance system at the bank end, second do the equipment software service at the merchant end, and third do the self-service products at the consumer end. At present, the preliminary commissioning of the product construction has been basically completed.”
From the perspective of industrial chain, the upstream of digital RMB covers security chip, security encryption and data security; The midstream is the currency issuing link, including digital currency issuing institutions, banking and it industry; Downstream is the field of payment, circulation and settlement. Some analysts pointed out that “the Winter Olympic Games will carry out the largest digital RMB pilot in history, and the upgrading and transformation of bank it system, the transformation of terminal payment equipment and the digital encryption / identity authentication / security chip involved in transaction links will bring business increment to listed enterprises”.
However, the contribution of digital RMB to the profits of relevant listed companies is relatively limited, Grg Banking Equipment Co.Ltd(002152) said, “digital RMB is still in the pilot stage and has a lot of early investment. At present, the company is unable to estimate the relevant revenue”; Feitian Technologies Co.Ltd(300386) previously said on the interactive platform that “there are still uncertain factors whether it can be supplied later”.
