Li Lihui: Digital RMB has the potential to be an important starting point for cash flow.

The former chairman of the Financial Services Corporation recently held a mid-industry meeting and stressed that the importance of saving money must be retained and purchased to implement cost reduction strategies. Encourage the conservation, concentration and recycling of resources in manufacturing. Improve national knowledge on preservation in food and advise on simple, medium, green and low carbon diets. As an important element of cash flow, the digital yuan has certain advantages in promoting ecology and low carbon. At the same time, it has the potential to become an important starting point for cash flow.

Innovation Scenario Introduction to Digital Yuan Application

Cash in RMB is often referred to as cash. The digital renminbi is not more money than money, it is a low-cost cash register and cash register device, it has the characteristics of low cost, high efficiency, security and reliability high, which can save money and printing cost for cash printing. Of course, achieving green and low-carbon values ​​must be “scaled up”.

According to the "Financial Statistics Report for the Third Quarter of 2021" published by the People's Bank of China, at the end of September 2021, the balance of China (M0), or RMB, was 8.69 yuan. 1 trillion yuan, up 5.5% from last year. The first quarter of cash investment was 255.2 billion yuan.

All funds in these wallets (e.g. RMB cash) are collected annually and the income for the period is equal to the income minus the repayment. . The digital renminbi is a digital form of cash, and as the number of renminbi denominations in the future increases, investment and fees are required to print, print, return, and discard old denominations. The former can be reduced.

Due to the legal advantages, the digital yuan may also change the pattern of the payment industry. In the mobile payment industry which is governed by market-driven payments such as WeChat Pay and Alipay, additional payment systems will facilitate competition and support. Also, improve the efficiency and reliability of payments to realize the integration of payments and finance.

Over the past ten years, the number of mobile payment and payment users in China has increased year by year. According to the "China Internet Development Statistical Report" published by the China Internet Network Information Center, since December 2020, the number of mobile payment users in China has reached 854 million, and the percentage of mobile phone users has reached 86 .4%. According to data released by the People's Republic of China (PRC), by 2020, China's mobile payment share is 123.22 billion yuan and 43.216 trillion yuan, up 21.48% and 24.50% year over year, respectively. In this vast mobile payment market, the digital renminbi has a growing market place and is more valuable than social and business.

In addition, effective digital renminbi payments can be tracked and traced, which promotes digital renminbi payments and increases the percentage of renminbi in cash flow, i.e. reducing anti-money laundering. money, the fight against tax evasion and the fight against corruption. , it also has a certain culture. The digital yuan is expected to reach a large market to realize the relationship and market value.

The measurement facility consists of two cores, one is to develop high-tech technology to achieve high stability, and the other is to design and develop rich applications compatible with each other to integrate the digital renminbi into all aspects of modern life. . The advantage of Internet companies is that they have hundreds of millions of users and high C-side usage status. Therefore, when they use digital RMB to promote green and low-carbon, Internet companies can and should do:. Introduce the digital renminbi into various application scenarios.

Based on the principles of safety, security, management, innovation and efficiency, the company launched a digital yuan experience in Shenzhen, Suzhou, Xiong'an, Chengdu and the start of the Winter Olympics in Beijing in 2022 to theoretically test. reliability .., reliability and efficiency, ease of procedures, applicability of scenarios and controllability of risks. From November 2020, 6 new bus stations will be added: Shanghai, Hainan, Changsha, Xi'an, Qingdao and Dalian.

In September, Meituan, together with China Post Bank, Agricultural Bank of China and Joint Venture Corporation, launched the low-carbon and medium-carbon public health-themed digital RMB pilot project. . The digital yuan low-carbon red round envelope was distributed to residents of Beijing, Shanghai, Shenzhen, Hainan, Changsha, Suzhou, Xi'an, Chengdu, Xiong'an New Area and other areas.

According to official data from Meituan, the renminbi pilot operations have had a positive impact on green tourism. Since the start of the three-month campaign, nearly 8 million users have signed up, of which nearly 2 million have opted out and opened their own RMB digital wallets at the time of the event. These users have accumulated more than 42 million green miles and are expected to reduce their carbon footprint by approximately 11,400 tonnes at the same rate as gasoline vehicles. Meituan is currently leading the development of a green and low-carbon digital yuan pilot project to promote green tourism. .

More importantly, the RMB digital wallet will improve user experience, guide users through Meituan payment status, and integrate the new digital RMB into people's daily lives. In a sense, status is a measure, and status is a challenge. Meituan has over 600 million users, and Meituan is driving the success of the digital yuan adoption industry.

Digital RMB creates new possibilities for cash flow.

From a general point of view, the "two carbon" goal is a good goal for humanity and a good goal for China itself. It is necessary to create a cash flow to achieve “double carbon”. The company has implemented a green financial development strategy based on "three responsibilities" and "five pillars", and improving wholesale and international operations, so that the digital renminbi can become an important starting point for cash. One is to become a tool in the green financial industry. Promote new product launches, improve export processes, streamline business processes and increase transparency. Currently, China has developed a multi-level green financial product market and market, and the next steps will continue to promote new products and improve business stability. The digital renminbi can be used as a payment instrument in the trading market for carbon credits and other monetary instruments.

One of the features that needs to be developed in the digital renminbi is the transport of smart contracts to realize the payments. Whether it is a direct trade in credits or the trading of commodities such as spot commodities in a spot commodity trading system such as the carbon credit trading system, it is appropriate to put in place a reasonable increase in the price of financial products by the competitive market, and it is also necessary to comply with regulations. The digital renminbi with contracts can be used for smart devices and payment tools. The second is to become a tool for incentive and disruptive processes for cash flow.

Guiding financial companies to increase green asset allocation and strengthen environmental governance through greenbacks, interest rates, incentives and other policies will help improve economic capacity to support green growth and low-carbon invisibility. Adhering to the "double carbon" policy and achieving the goal of "double carbon" is not only an economic problem, but also a problem for thousands of families. Achieving the “double carbon” objective. Thus, the processes of promoting and disrupting the green economy must include businesses, families and individuals.

Using the digital renminbi as a pricing and payment tool in implementing the green financial incentive policy allows you to do much less. The third is to become a tool to promote global participation in cash financing. The world is the single home of humanity and each nation is a united community for the future. Achieving the “double carbon” goal is the common responsibility of all countries in the world. Green finance needs international cooperation, and the market for carbon credits and other green products is not only national but also international.

The completion of the global digital market renminbi will help bring China's green products to the global market. In addition, China is a strong energy industry, and the proportion and weight of peak carbon and middle carbon are large. promotes equity and integration of funds. Renminbi digital technology itself can meet simple requirements for cross-border applications.

Based on the principle of adhering to the guiding principles and complying with laws and regulations, Chinese financial institutions have made it clear that they will explore the operation of digital yuan payments across borders and establish a legal contract for the exchange of digital currencies and regulatory cooperation. with the countries concerned. Financial policies are based on the principles of non-violence, compliance and cooperation. Although the digital renminbi is used in the domestic spot market, for use in cash defense or across borders, it is used as a financial tool for the green economy. Global financial markets create new investment and new opportunities. Internet marketers must pay close attention, step into the real world of marketing, plan ahead, share the right people, skills, finances, and resources, and strive to grow.