Hainan Announces "14th Five-Year Plan" for Financial Transactions: Pilot Digital Transaction Payment in RMB

On November 23, the Hainan State Government website announced the "14th Five-Year Plan for the Improvement of Hainan's Economic Crisis" (hereinafter referred to as the "Plan").

The plan says:Use renminbi pilot projects across the island, explore renminbi application scenarios with Hainan Free Trade Port features, and create a digital renminbi ecosystem.. the same time,To improve the efficiency of cross-border payments at the Hainan Free Trade Port, pilot digital cross-border payments in Yuan have been used. You can also explore past experiences using digital yuan bank accounts to promote green foods..

On November 10, the Hainan Government's Social Services Department released a report on the publication and distribution of the "14th Five-Year Plan" in Hainan Province for the development of the international restaurant. This report is a digital renminbi pilot program and a supplement of foreign currencies and renminbi exchange and exchange programs.

Finally, in October, the Haikou central branch of the People's Bank of China, the Insurance Regulatory Commission of Hainan Regulatory Bureau of China, the Securities Regulatory Commission of Hainan Regulatory Bureau of China, the province of Hainan, Ministry of Finance, Hainan Provincial Ministry of Agriculture, Rural Ministry, Hainan Province. The Rural Revitalization Bureau, Hainan Provincial State Finance Committee and officials jointly said that funds will be released to consolidate and expand poverty alleviation and rural advocacy.”

The "Strategy of Choice" responds to the need for greater support and use of the digital renminbi, especially in rural areas of Hainan. In December last year, the Hainan Provincial Committee of the People's Republic of China announced "the approval of the Hainan Provincial Council of the People's Republic of China for the establishment of the 14th five-year plan for national development and economic development and. Long-term goal”. 2035”. The "publicity" is intended to support experimentation with digital legitimacy, to support and establish a "financial blockchain" business group, and to support "sandbox monitoring" practices.

Currently, the renminbi's experimental plans include the first group of Shenzhen, Suzhou, Chengdu, Xian'an, the Beijing Winter Olympics and the second group of Shanghai, Changsha, Hainan, Qingdao, Dalian and Xi'an, which began to develop. "ten". 1". Among them, Hainan is the only state in the country to drive the renminbi statewide, and there are many applications in the C-side and B-side scenarios. The renminbi accounts for 50,000 people. It supports traders and has 640,000 personal wallets.