Changshu Rural Commercial Bank has announced an offer to find RMB digital conversion services.

Recently, Jiangsu Changshu Rural Commercial Bank Co., Ltd. (hereinafter referred to as "Changshu Rural Commercial Bank") announced a tender for the RMB digital project. Based on the market demand on the tender document and the completion rate, the entire implementation cycle of this project is planned for eight months, with an estimated start date of 25 July 2022.

Special trade rules include:

1. Personal wallet: backup media, card binding/unbinding, cash deposit/withdrawal, exchange, power supply, withdrawal and other activities. At the same time, it integrates with leather wallet technology to support the operation of offline activities, detailed information, inquiry information, etc. of the leather wallet.

2. For public wallets: support wallet opening, linking/unlinking, cash deposit/withdrawal, exchange, cancellation, smart contract and other activities.

3. Customer service: support for food, QR code, refund, warranty and other services.

4. Payment scenario: Support RMB digital payment method to experience fast and easy payment at different rates.

5. Intelligent catering scenarios: for catering consumption scenarios with consumer movement, such as restaurants and cafes, using the advantages of easy point-to-point RMB digital payment of main scan, scan, NFC, facial and other payment methods , to complete, users pay quickly and easily.

6. The Board's role includes information exchange, withdrawal and settlement inquiries, errors, statistical reports, business monitoring and other important matters.

7. Commercial and operational conditions must guarantee access to both direct access to a business and to a rural bank.

8. The online development of the City Financial Institution must be completed within the time frame set by the Central Bank Data Research Institute. According to expectations, the release date of the first batch is from December 2021 to January 2022.

9. The improvement of the improvement process generally depends on the success of the third party, there are uncertain situations and the strategic plan is adjusted accordingly. Due to changing regulations, manufacturers provide free support over time. From the perspective of market demand, the competitive operations of Changshu Rural Commercial Bank mainly include the exchange and entry into the RMB digital system, including the type of direct communication with operating organizations and the type of direct connection with local banks. It is large and comprehensive, and the requirements for all skills are equally high. The opening and closing hours for this contest are November 24, 2021 through December 13, 2021. Please see the link for specific contest information. http://www.csrcbank.com/yw/cgxx/cggg/202111/t20211124_6209712.html

Currently, the digital yuan pilot is being used in Shenzhen, Suzhou, Xiong'an, Chengdu and the Beijing Winter Olympics, as well as Shanghai, Hainan, Changsha, Xi'an, Qingdao and Dalian. It includes the Yangtze River Delta, Pearl River Delta, Beijing, and Tianjin, and includes regions such as Hebei Province, the Midwest, the Northeast, and the Northwest.

In addition to Tier 2 organizations, other small and medium banks often access digital yuan interconnection platforms through direct connections to offices or through financial institutions in urban and rural banks. According to the mobile payment network, as of August 12, 2021, 24 local businesses have confirmed to be connected to the RMB digital connection platform through the city bank liquidation. Another 94 banks (76 local companies, 15 private banks and 3 foreign banks) are preparing to access the RMB digital connectivity platform through the city bank. In the case of City Financial Corporation, the first group of seven banks had achieved good accessibility, and members of other financial institutions went ahead with the decision with "single access" to the digital RMB system.

According to mobile payment network statistics, out of 46 digital yuan supply data last year, 19 are 2.5-level schools, accounting for more than 40%. Fifteen banks out of 2.5 colleges hold almost 80%. And most of these banks need access to the system. Changshu Rural Commercial Bank is one of the earliest rural financial joint ventures in China, headquartered in Jiangsu, Changshu, a city under the jurisdiction of Suzhou City. Suzhou is one of the first cities for RMB digital services. It is necessary to have an exchange demand and a favorable situation for the digital yuan.