Beijing News Shell Financial News (reporter Huang Xinyu) In the winter of 2020, the pilot application of the Digital Yuan Winter Olympics was officially launched. After going through the construction process from a "station" to a "street" and then to the "City of The Two Olympics", on January 26, 2022, the reporter learned from the Beijing Municipal Financial Supervision Bureau that by the end of 2021, the city will open more than 12 million digital RMB personal wallets and more than 1.3 million public wallets, covering more than 400,000 winter Olympic scenes such as food, housing, travel, travel, shopping, entertainment, and medicine, with a transaction amount of 9.6 billion yuan.
It is understood that the 2021 Beijing digital yuan pilot is generally operating well, forming a modern digital financial system in the capital that focuses on serving the Beijing Winter Olympics, covering multiple scenarios, empowering smart life, leading the direction of innovation and integrating services for the benefit of the people, which also lays a solid foundation for Beijing to build an international consumption center and smart city and build a global digital economy benchmark city.
Keywords: Winter Olympics
The special scenes of the Winter Olympics ensure the payment experience of domestic and foreign consumers
Featuring the Winter Olympics scenario pilot, the Beijing Digital Yuan Pilot focuses on the payment service needs of the seven key areas of the Winter Olympic Games: food, housing, travel, travel, shopping, entertainment and medicine, and creates distinctive pilot scenarios and products to ensure the payment experience of domestic and foreign consumers using the digital yuan and help the Winter Olympic Games to be held.
At the end of December 2020, the pilot application of the Digital Yuan Winter Olympics was launched on the Daxing Airport Line of the Beijing Metro. Shen Xue, world champion in figure skating, used digital yuan to buy the city's first digital yuan subway ticket and experienced the use of the Winter Olympics special wearable device wallet through the subway gate, marking the official start of the pilot (as shown in Figure 1). This has also become the origin of "a 'station'" in the pilot construction of the Beijing Digital Rmb Winter Olympics.
Figure 1: World Champion Shen Xue experiences using a wearable device wallet featuring the Winter Olympics to pass through the subway gate. (Source: Courtesy of Beijing Municipal Financial Supervision Bureau)
In the past year, through the Winter Olympics scene to display the innovative achievements of application, based on the scientific and technological Winter Olympics, the construction of smart Winter Olympics, Beijing's pilot work has deployed innovative application scenarios such as unmanned trucks, self-service vending machines, and unmanned supermarkets, and launched wearable payment devices such as payment gloves, payment badges, and payment clothing. At the end of 2021, the construction of the payment environment for the closed-loop Outer Winter Olympics was successfully concluded, and the pilot of the Digital Yuan Winter Olympics scene was steadily promoted to create a safe, convenient and efficient digital yuan payment environment for the Science and Technology Winter Olympics, which fully demonstrated Beijing's achievements in exploring the development of financial technology and accumulated valuable experience for the construction of the capital's digital financial system.
Keywords: consumption
Diversified scene coverage to help the construction of international consumption center cities
Different from other pilot areas in China, the Beijing Digital Yuan Pilot focuses on diversified scenario coverage and participates in the construction process of Beijing's international consumer center city, forming a series of special activities and consumption scenarios.
In February 2021, the "Digital Wangfujing Ice and Snow Shopping Festival" campaign was launched, and 50,000 digital RMB red envelopes with a amount of 200 yuan were distributed to consumers in Beijing for consumption and use by designated merchants on Wangfujing Avenue or the Jingdong App activity area during the Spring Festival, and the use of digital coins was expanded to "one street" (as shown in Figure 2).
Figure 2: From February 4 to 17, 2021, under the guidance of the Head Office of the People's Bank of China, Beijing held the "Digital Wangfujing Ice and Snow Shopping Festival" digital yuan pilot activity. (Source: Courtesy of Beijing Municipal Financial Supervision Bureau)
In April 2021, the Beijing consumption season was launched, and the research and development results of digital yuan such as "digital currency-foreign currency self-service exchange machine" were highlighted at the launching ceremony of the consumption season, which received high attention from the media and the public and achieved good publicity results; in June of the same year, the "Beijing Lottery Strivers Digital Carnival" activity distributed 200,000 digital RMB red envelopes with an amount of 200 yuan to Beijing consumers, which can be used without threshold in nearly 2,000 designated merchants in the city, and the digital currency pilot was expanded to the "City of Double Olympics" (as shown in Figure 3).
Figure 3: From June 5 to 20, 2021, Beijing held the "Beijing Strivers Digital Carnival" digital yuan pilot activity with the theme of promoting the spirit of "Strivers". (Source: Courtesy of Beijing Municipal Financial Supervision Bureau)
In terms of retail payment, scenes such as catering, accommodation, and shopping have been rapidly promoted, covering well-known restaurants, Chinese and foreign hotels, large and small supermarkets and vegetable markets in key business districts in the city; tourism, entertainment and other scenes have gradually expanded, and the famous scenic spots represented by the Yuanmingyuan, the Summer Palace, the Temple of Heaven, Badaling, Badaling, Badachu, etc., and the leisure scenic spots represented by Universal Beijing Resort, Happy Valley, Gubei Water Town, Beijing-Hangzhou Grand Canal, etc. have carried out digital RMB pilots. The diversified pilot scenarios have met the diversified and convenient consumption needs of residents, promoted the development of new consumption scenarios and the promotion of digital yuan, and helped build an international consumption center city.
Keywords: people's livelihood
Integrate services for the benefit of the people, focusing on people's livelihood application scenarios
The reporter learned from the Beijing Municipal Financial Supervision Bureau that Beijing has strengthened the linkage with convenient services for the benefit of the people in actively promoting the pilot work of the digital yuan, and has created more application scenarios close to the people's livelihood with the "seven haves" and "five natures" as the core.
In October 2021, with the launch of the "Jingcai Huimin livelihood digital carnival" activity, the digital yuan pilot gradually entered more common, small and high-frequency areas of people's livelihood, which is reflected in the construction of the following three scenarios.
First, scenarios such as travel and communication are steadily advancing. At present, the bus subway and shared bicycles in Beijing have fully supported the use of digital yuan to buy tickets and rides; the three major operators, EMS, SF, etc. all support digital yuan payment.
Secondly, the construction of scenarios such as payment and medical treatment is smooth. Beijing State Grid Power supports the use of digital yuan to pay electricity bills; the Beijing Water App will soon launch a digital yuan payment function; and 27 designated hospitals for the Winter Olympics in 27 cities (districts) have carried out digital yuan pilots.
Third, scenes such as old-age care, helping farmers, and helping the weak reflect more humanistic care. Some pilot pension service stations in Beijing have begun to use digital yuan to pay various fees and video card wallets with integrated health code functions to help the elderly overcome the "digital divide"; the application of scenes such as picking gardens, homestays, and poverty alleviation product procurement has introduced digital yuan into the field and used financial technology to help rural revitalization; the Xiangshan Branch of Postal Savings Bank has also launched a digital yuan sign language service.
Beijing's goal is that, based on the standard of first goodness, the digital yuan pilot work focuses on the deep integration of services that benefit the people and the people, which will help further improve the digital literacy of citizens and improve the level and efficiency of urban basic financial services while facilitating the needs of the public's daily life payment.
Keywords: smart government
Lead the direction of innovation, and deepen the pilot use of government service scenarios
According to the Beijing Municipal Financial Supervision Bureau, the Beijing government service scene has led the pilot work of the digital yuan and created a number of "first case" applications, enriching the enabling field of the digital yuan.
Beijing is the first to use digital currency to pay party fees; Fengtai Staff University took the lead in accepting digital currency to pay tuition fees, and pioneered the application of digital yuan in the fiscal and tax non-tax income collection business scenario in the country; The Fengtai District Government Service Center supports the use of digital currency to pay fees and launches the city's first digital RMB application scenario for government services; the Dongcheng District Taxation Bureau collects the corresponding tax on rental housing through digital RMB, marking the landing of the digital RMB tax payment scene in Beijing.
A number of "first cases" in the field of government services in Beijing reflect the innovative application of smart government affairs and are also active explorations of Beijing's optimization of the business environment.
Keywords: digital economy
Empower smart cities and innovate benchmarking application scenarios for the digital economy
Focusing on the goal of building a global digital economy benchmark city, Beijing piloted and actively explored and expanded the application scenarios of the digital economy, and created a number of characteristic innovation scenarios.
Among them, the "one-point access" digital rmb system of the payment and clearing system of the Rural Credit Bank has been put into operation, supporting the "one-point access" digital rmb system of small and medium-sized financial institutions in rural areas across the country, which marks the important phased results of the application pilot work of the digital rmb in rural areas; the "Pilot Project for Innovation of Digital RMB Application Scenarios in the Securities Industry" jointly launched by Galaxy Securities and Industrial and Commercial Bank of China has been included in the pilot of financial technology innovation in the capital market, which is the first time that the application scenario of digital RMB has been extended to the securities industry China Insurance successfully launched the digital RMB online payment function and completed the landing of the city's first digital yuan insurance policy.
In addition, Baidu's self-driving vehicles pioneered the use of digital currency to pay for rides, further accelerating the layout of intelligent facilities in the city; Meituan launched a digital yuan carbon neutrality pilot activity in 9 places to encourage consumers to obtain digital yuan rewards by participating in green and low-carbon consumption behavior; JD.com realized third-party merchants to access the digital yuan system, becoming the first batch of enterprises in the country to support the use of digital yuan by "self-operated + third-party merchants".
Beijing has continuously deepened the digital yuan pilot and actively created innovative application scenarios for digital finance, laying a solid foundation for building a modern digital financial system in the capital and building a benchmark city for the global digital economy.
Improve the construction of the digital yuan ecosystem
Since the pilot work was launched, the construction of Beijing's digital yuan ecosystem has attracted much attention. It is reported that after more than a year of pilot exploration of the digital yuan, the construction of the digital yuan ecosystem in Beijing has continued to improve.
In September 2021, the China Service Trade Fair, The China (Beijing) Digital Finance Forum, and the Financial Street Forum were held successively, and the "Digital Rmb Avenue" and the Digital Rmb Professional Exhibition Area made wonderful appearances, showing the development ecology of the full-scene construction of the Digital Rmb in Beijing by providing on-site immersive experience; the "National Digital Financial Technology Testing Center" jointly built by the Digital Currency Research Institute of the People's Bank of China (i.e., the "Central Bank Digital Research Institute") and the Lize Financial Business District was officially inaugurated; under the policy framework of the "Two Districts", The Beijing Fiat Digital Currency Pilot Zone has been listed in sub-centers, Fengtai, Shunyi and other districts, and the advantages and significance of the digital yuan as a fiat digital currency continue to emerge.
It is understood that Beijing will continue to deepen the digital yuan pilot in a sound and orderly manner in the next step, focus on meeting the needs of domestic retail payment, use the digital yuan in more scenarios such as retail transactions, living expenses, government services, etc., and build a global digital economy benchmark city with the advantages of smart financial services; at the same time, continue to rely on the Digital Currency Research Institute of the People's Bank of China as the core, support the continuous landing of key digital financial institutions and major projects, and create a good development ecology for digital yuan technology and application.
Beijing News shell financial reporter Huang Xinyu Editor Yue Caizhou Proofreader Liu Baoqing