On January 24, the performance of the digital currency sector continued to be strong. On the same day, the Hithink Royalflush Information Network Co.Ltd(300033) digital currency sector closed up 3.22%, more than 80% of the stocks in the sector rose, and several stocks such as Shenzhen Emperor Technology Company Limited(300546) , Northking Information Technology Co.Ltd(002987) , Yunnan Nantian Electronics Information Co.Ltd(000948) rose by the limit. It is worth noting that the strong performance of this sector has lasted for some time. The Hithink Royalflush Information Network Co.Ltd(300033) digital currency sector has increased by more than 16% in the year, 45% in the past three months since November last year, Beijing Cuiwei Tower Co.Ltd(603123) , Synthesis Electronic Technology Co.Ltd(300479) by more than 100% in the past three months, 121.79% and 90.05% respectively.
On the news side, on January 20, us time, the Federal Reserve released the central bank’s digital currency Research Report “money and payment: the dollar in the digital transformation era”, which discussed the advantages and disadvantages of the central bank’s digital currency (CBDC) and solicited public opinions. Although there are still differences and disputes about the digital dollar, the industry said that the report opened “the first step of open discussion between the Federal Reserve and stakeholders on CBDC”. Guosheng Securities pointed out that although the Fed stressed that the release of the report aims to throw out opinions and solicit public opinions, it does not represent the action tendency of issuing or not issuing digital dollars, the release of the report itself reflects the Fed’s high attention to the subject of CBDC. We are optimistic about the opportunities that digital RMB may bring to relevant institutions by reconstructing China’s electronic payment industry chain.
Recently, digital RMB has ushered in dual catalysis at the policy and industry levels. At the policy level, the State Council recently issued the overall plan for the pilot of comprehensive reform of market-oriented allocation of factors, which proposed to “increase the supply of effective financial services and support the pilot application of digital RMB in retail transactions, living payment, government services and other scenarios”; The State Council also recently issued the “14th five year plan” for the development of digital economy, proposing to steadily promote the research and development of digital RMB and carry out controllable pilot projects in an orderly manner. By 2025, the digital economy will move towards a period of comprehensive expansion, and the added value of the core industries of the digital economy will account for 10% of GDP.
In terms of industry, on January 4, the digital RMB (pilot version) app was officially launched, and 49 merchants were launched, involving five categories: shopping, travel, life and tourism. According to Huawei’s application market, the central bank’s digital currency app will be downloaded more than ten million times, and the download volume of Xiaomi store and other channels is also growing rapidly. Huaxi Securities Co.Ltd(002926) believes that the central bank’s digital RMB (currency) has entered a new stage of comprehensive pilot, and the large-scale application and promotion is close at hand.
The upcoming winter Olympics is an important application scenario for the pilot of digital RMB. The relevant person in charge of the people’s Bank of China previously said that focusing on the Beijing 2022 Winter Olympic Games to promote the pilot application of digital RMB in more scenes, 355000 Winter Olympic scenes have been successfully implemented, and seven kinds of scenes such as transportation, catering and accommodation have been fully covered.
Capital Securities said that the digital currency industry chain includes the upstream basic chip and application technology related industries, as well as the fields of security chip, security encryption and data security, the midstream currency issuing industry (including digital currency issuing institutions and bank IT industry), and the downstream payment, circulation and settlement fields. Therefore, the popularization of digital RMB will drive the bank it, data encryption Product upgrading and application scenario expansion in network security, payment terminal and other industries. Guotai Junan Securities Co.Ltd(601211) it is recommended to pay attention to two main lines: one is hard wallet, that is, the explosive demand for the landing and opening of new payment links; Second, the transformation of relevant bank IT systems promoted by the promotion of digital RMB. Huaxi Securities Co.Ltd(002926) also believes that at this stage, we should focus on the head bank IT manufacturers, with both the certainty of bank side it transformation and the imagination space of scenario operation.
