Digital RMB helps Shanghai's "May 5th Shopping Festival" go to the whole country

As Shanghai's first large-scale comprehensive consumer festival in the country, the second "May 5th Shopping Festival" will continue to upgrade on the basis of the first experience.

At a press conference held by the Shanghai Municipal Government on April 20, Gu Jun, director of the Shanghai Municipal Commission of Commerce, said that the second "May 5th Shopping Festival" will adhere to the "policy + activity" two-wheel drive model, and coordinate the "global debut" Season" and "Citywide Discount Season", in terms of organization and planning, we will strengthen urban-city alliances, government-enterprise alliances, and regional linkages; in terms of coverage, we will strive to achieve full coverage of local platforms, merchants, and terminal products. Full coverage of consumer groups.

Liu Min, deputy director of the Shanghai Municipal Commission of Commerce, pointed out that compared with the first one, this year's "May 5th Shopping Festival" has a larger overall scale, better supply quality, wider linkage scope, and more practical measures to benefit the people. It has also moved from Shanghai to a long-term shopping festival. Triangle, going to the whole country.

Shanghai's first store economy has continued to lead the country for many years. Affected by the epidemic and other factors, Shanghai will still introduce 909 first stores of various types in 2020. On this basis, Shanghai will take advantage of the "May 5th Shopping Festival" to continue to amplify the effect of "starting economy".

China Minsheng Bank is the first to launch digital RMB salary service directly to corporate accounts: Golden Finance News, recently, several small and micro enterprises in Xiangcheng District, Suzhou City used basic settlement accounts through Minsheng Bank’s enterprise network, and successfully paid directly to their employees’ digital RMB wallets The subsidy marks the official launch of the bank's direct payment of digital renminbi salary services to corporate accounts first built around corporate customers. It is understood that Minsheng Bank has established a strategic partnership with the Xiangcheng District Government of Suzhou City, and established a digital RMB application innovation laboratory in Suzhou. This innovative service is a landmark achievement of the laboratory. (Securities Daily Network) [2022/6/28 1:36:06]

Gu Jun said at the press conference on the same day that in order to further boost the Shanghai consumer market and promote the construction of Shanghai as an international consumption center city, Shanghai will soon introduce "Several Measures on Accelerating the Construction of an International Consumption Center City and Continuously Promoting Consumption Expansion and Quality Improvement" (hereinafter referred to as "Several Measures"), focusing on four aspects including "enhancing the functional positioning of the 'May 5th Shopping Festival'", "promoting consumption upgrading", "deepening digital transformation" and "strengthening the support system", and proposed 12 measures.

Radio and Television Express: There are four major teams following the digital renminbi pilot: According to news on January 1, Radio and Television Express said in an institutional survey that there are currently four major teams following the digital renminbi pilot. Among them, the Innovation Center under the Institute of Intelligent Finance has established a special digital renminbi application laboratory, which has a comprehensive layout of the digital renminbi ecology and maintains an open attitude towards the financial scene of digital renminbi; subsidiaries Guangzhou Express Data Technology Co., Ltd., Express Digital Space ( Beijing) Technology Co., Ltd. and Shenzhen Chuangzi Technology Co., Ltd. and other teams have entered into the technology research and development, scene application and market expansion of digital renminbi from different directions. The research and development directions include smart contracts, digital renminbi payment channels, and bank digital renminbi business systems. , digital renminbi hard wallet and digital renminbi account opening equipment. (Interface) [2022/1/2 8:19:32]

Focusing on creating a place for global new product launches, the "Several Measures" clearly proposes to support the first brand stores, launch activities, and brand first exhibitions that meet the standards.

State Grid has implemented the application of digital RMB electricity bill payment in 9 pilot areas: According to news on July 22, State Grid Corporation’s own full Netcom Internet electricity bill collection and payment platform, Dianebao, has officially logged on to the official digital RMB app of the People’s Bank of China and completed the integration with Opening of the central bank sub-wallet push function. After the sub-wallet push function is launched, users do not need to jump to the bank wallet interface when paying electricity bills online within the App, and can directly complete digital RMB electricity bill payment on the original interface. At present, this business has been fully released to 9 pilot areas in the State Grid Corporation's operating area, including Xiong'an New District, Suzhou, Chengdu, Shanghai, Xi'an, Dalian, Changsha, Qingdao, and the Winter Olympics scene. (Economic Information Daily) [2021/7/22 1:10:10]

According to the combing, this year's "May 5th Shopping Festival" will hold nearly 1,900 various activities, not only adding the theme of "Global Premiere Season", but also launching more than 130 activities in the first economic sector.

Li Lihui, former president of the Bank of China: The Winter Olympics will pilot the digital renminbi: Li Lihui, head of the blockchain research group of the China Internet Finance Industry Association and former president of the Bank of China, recently said that the digital renminbi pilot is progressing smoothly and has now expanded to 10 cities . He predicts that during the Winter Olympics, it should be possible to use digital renminbi in scenarios such as entry and exit places such as Beijing, Shanghai, and Guangzhou, the hotel service industry, and Winter Olympics venues. He said: "As the touchstone of the digital renminbi, I am still full of confidence in the Winter Olympics." (China Daily) [2021/6/23 0:00:31]

Gu Jun said that during the "May 5th Shopping Festival", Shanghai will create the 2021 "Shanghai Global New Product Launch Season", and more than 550 domestic and foreign brands will launch more than 2,800 new products. The enthusiasm for the 'May 5th Shopping Festival' is very high."

This year's global premiere season will usher in climaxes such as the concentrated debut of key event platform brands, intensive debuts of internationally renowned brands in Shanghai, and innovative debuts of leading local brands.

Among them, major international brands have created brand theme day activities for the first season focusing on new products, new technologies, new services and first stores. For example, LVMH, Kering, and Richemont each launched more than 100 new products with more than 20 brands under their umbrellas, and held a number of major launch events. L'Oreal and Estee Lauder Group released more than 100 new products with their brands, and L'Oreal Paris also launched the world's first concept flagship store. The LEGO Group will hold the Asian premiere of the LEGO "House of Boldness" global tour.

At the same time, nearly 50 new models of 13 vehicle brands under SAIC Motor will hold special events; Jialan Group will launch 10 series of new products with 3 brands including Zentangle and Meisu; Lily, Wu, Rose Chen, Shajuan and other brands A fashion show will be launched.

Bright Food Group will also launch more than 100 new products of time-honored brands such as Big White Rabbit, and launch them simultaneously on more than 3,000 online and offline terminal channels; more than 30 new products jointly branded by "Bright × Flower Expo" will be launched at the Flower Expo. Yuyuan will launch a new national fashion product for the world premiere and distribute 10 million lucky bags.

Gu Jun said that in the next step, Shanghai will continue to deepen the construction of the "Global New Product Launch Demonstration Zone", accelerate the gathering of international and domestic brands, accelerate the creation of high-end consumption landmarks, optimize the economic environment for the launch, build a publicity and promotion platform with international influence, and accelerate global new product launch. The construction of the first place will further amplify the effect of "first launch economy" from "first launch" to "first store" to "headquarters".

Gu Jun said at the press conference that the "Several Measures" will focus on deepening the digital transformation of the consumer sector and propose three measures, one of which is to launch a pilot application of digital renminbi.

According to Liu Min, at the end of last year, the Shanghai commerce and trade industry had been included in the digital renminbi pilot application scenarios. At present, various tests of Shanghai's key business districts, commercial streets, enterprises and platforms are progressing in an orderly manner, and the payment acceptance environment is continuously optimized.

A day ago, "Suzhou Release" revealed in advance that Suzhou and Shanghai will distribute consumer red envelopes on the upcoming "May 5th Shopping Festival" to further promote the diversification of digital RMB scenarios. At present, the six digital renminbi pilot banks have started docking with participating merchants, and will launch preferential activities to promote consumption.

In other words, during this year's "May 5th Shopping Festival", the scope of digital renminbi use will be further expanded. Citizens participating in the digital renminbi pilot program can use digital renminbi to pay at any merchant in Suzhou and Shanghai that has opened digital renminbi acceptance.

This is regarded as Shanghai's first large-scale digital renminbi pilot, and it is also the first pilot test of a remote linkage model in China.

Previously, Suzhou has carried out two rounds of large-scale digital renminbi promotion activities, and took the lead in testing the water for dual offline payments. It is the first batch of digital renminbi pilot cities in China. Shanghai has also conducted local tests with different financial institutions at various points in time, but on a smaller scale. On December 10, 2020, the "Suggestions of the Shanghai Municipal Committee of the Communist Party of China on Formulating the Fourteenth Five-Year Plan for Shanghai's National Economic and Social Development and the Long-term Goals for 2035" was officially released. Pilot".

At the end of 2019, digital renminbi pilots and tests were successively launched in Shenzhen, Suzhou, Xiongan, Chengdu and the Beijing Winter Olympics venue. By October 2020, six pilot testing areas including Shanghai, Hainan, Changsha, Xi'an, Qingdao, and Dalian will be added.

Li Feng, deputy dean of the China Institute for Financial Research at Shanghai Jiao Tong University and professor of accounting at the Shanghai Advanced Institute of Finance, previously proposed that on the basis of pilot projects in several other cities, it is expected that Shanghai will have more breakthroughs in future pilot projects. For example, allow more banks to participate, from the existing six major banks to more large and medium-sized commercial banks; from the household consumption field to other fields, such as public service fields such as water, electricity and coal, and bank credit markets such as special loans. Fund investment and other investment and wealth management markets; try cross-border digital renminbi payment and settlement, "may give priority to promotion from areas such as the Lingang New Area or the Free Trade Zone."

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