Digital RMB improvement consumption "gravity"

Digital RMB is playing a positive role in precisely stimulating the potential of residents' consumption. On March 31st this year, after the expansion of the digital RMB pilot, the newly included third batch of pilot cities are actively enhancing the "gravity" of consumption through digital RMB. The new round of digital RMB consumer vouchers are being launched in many places.

Digital consumer vouchers to promote consumption

Since the beginning of this year, sending digital RMB consumer coupons has become one of the measures for consumer consumption in many digital RMB pilot areas. In particular, since the third batch of digital RMB pilot cities have been released, the newly included cities have recently actively enhanced the "gravity" of consumption through digital RMB consumer coupons.

At the end of March this year, the pilot of the digital RMB has been expanded from the original "10+1" pilot area to 23 areas of 15 provinces and cities, and Tianjin, Chongqing, Guangzhou, Fuzhou, Fuzhou and Xiamen, Zhejiang, Hangzhou, Ningbo, Wenzhou, Zhejiang , Huzhou, Shaoxing, Jinhua, Beijing and Zhangjiakou, Hebei, have also turned into pilot areas after the pilot pilot pilot of the Beijing Winter Olympics and the Winter Paralympics venue in 2022. According to incomplete statistics, since June, Xiamen, Jinhua, Guangzhou, Fuzhou, Hangzhou, Ningbo, Shaoxing and other places have initiated various forms of digital RMB to promote consumption activities.

From July 31st to August 25th, Hangzhou West Lake District, Zhejiang Province launched a summer hot consumption activity of "West Lake Yuehui Digital Life", and distributed two rounds of 1.05 million digital renminbi red envelopes through Alipay APP. From August 13th to September 30th, Shaoxing will also issue 50 million yuan of digital RMB red envelopes. In the issuance of digital RMB consumer coupons, Internet platforms have become important carriers. Li Yan, the head of the Ant Group Digital RMB project, introduced to the reporter of the Economic Daily that at the end of 2017, the Ant Group participated in the research and development of the digital RMB system. The online merchant bank initiated by Ant was one of the digital RMB operation agencies. In May this year, Alipay launched the digital RMB search function, supporting the one -stop use of digital RMB receiving payment, transfer and bank card management functions. As of now, about 7 million digital RMB wallets have been pushed to merchants in Alipay services. Next, Alipay will expand more consumer scenarios with partners.

"The technical characteristics of digital RMB, especially the use of smart contract technology, are conducive to accurately promoting consumption." Zhou Maohua, a macro researcher at the Financial Market Department of Everbright Bank, believes that digital RMB with consumer coupons, e -commerce platforms and other scenarios helps digital RMB promotion It also helps the consumer market to accelerate recovery. According to the statistics of the People's Bank of China, as of May 31 this year, the total number of pilot regions of 15 provinces and cities passed the cumulative transaction pens through digital RMB was about 264 million, and the amount was about 83 billion yuan. Thousands of.

Give full play to special features to stimulate consumer potential

In the near future, while giving play to the characteristics of digital RMB characteristics and issuing digital RMB consumer coupons, combined with local characteristics, combining digital RMB promotion activities with digital consumer vouchers and issuing activities. Models, jointly promote consumption recovery.

All localities combine digital RMB promotion activities with online consumer coupons distribution activities, adopt the model of government guidance, digital upgrade of merchants, and platform assistance to promote consumption recovery. For example, on July 15th, under the guidance of Beijing, Nanjing, Zhengzhou, Nanchang, Wuhan and other places, the "Baicheng Wandian" merchant joint Alipay opened the "Summer Consumption Festival" and established the "main venue" online. In addition to opening up 1 billion traffic for merchants, the platform also contributed subsidies to provide "paying red envelopes" and the four major scenarios of travel, catering, fast -moving consumer, and takeaway. Offline, the consumer momentum is further enhanced through red envelopes and consumer coupons. During the "Summer Consumption Festival", 26 Wuhan's 26 food street supper markets have recovered. Wedding banquet consumption has increased by 22%compared with the same period last year. Volkswagen catering consumption has increased by 15%compared with the same period last year. The "Fifth Five -Year Shopping Festival" in Shanghai is also issuing digital RMB consumer coupons and digital consumer vouchers through the Internet platform. It adopts online and offline fusion to inspire people's consumer enthusiasm. According to Alipay data, the number of offline consumption pens in Beijing, Shanghai, and Zhengzhou increased by 31%, 20%, and 30%compared with June, respectively.

Industry experts believe that it should further play special functions such as digital RMB smart contracts, and actively play a role in protecting people's livelihood, promoting consumption, expanding domestic demand, and steady growth. Zhou Maohua said that payment institutions and Internet companies with rich consumer scenarios have important functions such as platform construction, scene landing, merchant development, and digital RMB solutions. Participate in the pilot to help digital RMB exert a greater insurance and promote consumption value.

At the same time, the role of key nodes in it should be better played. "The platform is the support point and intermediary of the government and merchants, which plays an important role in promoting consumption." Wu Xianming, a professor at the School of Economics and Management of Wuhan University, believes. The living service Internet platform connects many consumer scenarios close to the daily life of the people, and it should fully tap its potential value for boosting consumption and service merchants. Wu Xianming said that taking the "Summer Consumption Festival" as an example, such activities have supported merchants. Next, the platform should also be deeply embedded in the value chain of merchants, and continue to help small and medium businesses reduce costs and increase efficiency. For example, in order to accelerate the digital transformation of small and micro enterprises, Alipay has launched a digital ecological incentive plan of funds resources in the country to help merchants reduce costs and increase efficiency through capital support, traffic subsidies, and expenses. Zhang Xianhua, president of the Wuhan Commercial Federation, believes that merchants should also keep up with opportunities and speed up the pace of transformation. "Under the current circumstances, enterprises need to keep up with market trends and explore the digital operation model under the premise of doing a good job in the main business." He said that such as cooperation with the Internet platform to play online channels Methods, strengthen online and offline linkages, and promote consumption to recover.

Supporting construction gradually accelerates improvement

From the perspective of the early pilot situation, digital RMB has formed a large number of applications that cover online and offline, replicated and promoted application models in the fields of wholesale retail, catering cultural tourism, education and medical care, and public services. It provides new development momentum. With the deepening of the digital RMB pilot, industry experts believe that further strengthening the construction should be strengthened. In the next step, on the basis of steadily expanding the scope of the pilot, we will deepen the pilot use of scenarios such as retail transactions, living payment, and government services. At the same time, give full play to the enthusiasm and creativity of the participants from all walks of life, and explore the sustainable development model of social subjects to participate in and compete for excellence.

Dong Ximiao, chief researcher at Zhailian Finance, said that digital RMB helps to boost residents' willingness to consumption, promote consumption growth, improve consumer structure, and then expand domestic demand. It is recommended to continue to expand digital RMB pilot applications steadily, including encouraging multi -subject participation, achieving multi -scenario coverage, expanding multi -functional applications, and strengthening multi -channel publicity, especially to add digital RMB pilots as soon as possible. At the same time, we must improve the legal system of digital RMB, actively strengthen international exchanges and cooperation, and participate in global governance of digital finance.

"We must adhere to the people -centered and build product services and scene construction." Fan Yifei, deputy president of the People's Bank of China, said that it is necessary to give full play to the characteristics of digital RMB, accurate accounts and values, as well as relatively low cost, payment of payment, The characteristics of settlement and programming, build a multi -level product and service system, and promote the deep integration and mutual promotion of public business and personal business. Support to provide convenient funds management, salary distribution, and sales services for small and medium -sized enterprises, and practice the concept of benefiting enterprises and the people.

It is necessary to stabilize the development of digital RMB, and we must also adhere to market -oriented development and encourage all parties to win -win cooperation. Fan Yifei emphasized that under the premise of adhering to the central bank's centralized management and compliance in accordance with law, it gives full play to the decisive role of the market in the allocation of resource allocation and encouraged market entities to carry out promotion activities independently. Promote the construction and sharing of the whole society, use smart contracts to achieve programmable characteristics, create an open source ecological platform, and build a digital RMB open ecosystem. Fully mobilize the enthusiasm of all parties, increase investment in resources, and promote the improvement of environmental construction quality and efficiency. Support the selection of competition and compatibility of various institutions, and promote the formation of a balanced mechanism that is conducive to the sustainable development of the industry. At the same time, the foundation of the rule of law and supervision of digital RMB development. Research and introduced digital RMB -related laws and regulations and industry supporting policies, continuously improved the technical standards of digital RMB, consolidated the foundation of the rule of law in the rule of law, and consolidated the status of digital RMB law.

In terms of privacy protection that consumers are concerned about, digital RMB attaches great importance to customer privacy protection, and follows the principle of "small anonymity and traceability according to law" to fully protect the public's reasonable personal information protection needs. Mu Changchun, director of the Institute of Digital Currency of the People's Bank of China, introduced that digital RMB followed the "minimum and necessary" principle when collecting personal information, and the amount of information collected was less than existing electronic payment instruments. At present, relevant departments are starting to study and establish an information isolation mechanism, clarify the independence of operating institutions to carry out digital RMB operation business, and standardize the use of digital RMB customer information by establishing digital RMB customer information isolation mechanisms and use restrictions. (Reporter Chen Guojing)

Source: Economic Daily

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