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19/08/2021

Hot Off the Press

Digital RMB Wallets Available in Gyms

• According to the official official account of Shanghai Jing'an, the Jing'an District Sports Bureau and the Bank of Communications have launched a digital RMB wallet pilot in more than 80 fitness venues in Jing'an District. Currently, the digital RMB payment function has been launched on the Jing'an Sports Charity Distribution platform for consumer payment. Citizens can log in to the Jing'an Sports APP at 12 o'clock and 4 o'clock every day to receive 80 yuan (available for a purchasae of 180 yuan) and 60 yuan (available for a purchase of 100 yuan) coupons.

• Beijing Municipal People’s Government, announced Beijing’s Fourteenth Five-Year Plan in the High-precision Industry Development Plan. The Plan pointed out that there will be two industrial clusters in the north and south of Beijing. The northern R&D innovation and information industry in Haidian District in Shanghai will develop a new generation of information technology, blockchain and advanced computing. Chaoyang District will develop information content, industrial Internet, blockchain and advanced computing. Blockchain will become "Beijing Intelligent Manufacturing" and "Beijing Service" The new business card block chain and advanced computing focus on the layout of Haidian, Chaoyang and other districts, and strive to achieve operating income of more than 600 billion yuan by 2025.

• The China Merchants Bank Co., Ltd. issued the first non-resident enterprise to withhold and pay the blockchain tax payment voucher through the Electronic Taxation Bureau. It is reported that the blockchain tax payment voucher is a new module jointly developed by the Revenue Planning and Accounting Office, the Tax Administration and Technology Development Office of the Shenzhen Taxation Bureau, and the Information Centre. Transparent, non-tamperable, traceable, safe and reliable and other data management features to manage tax receipts and taxes. The person in charge of the Shenzhen Municipal Taxation Bureau emphasized that it is necessary to continue to leverage the advantages of blockchain technology and expand the application of blockchain in the electronic reform of value-added tax invoices, data asset appreciation, and credit system construction, so as to create a richer and more diverse application. The "chain" of ecology. (Shenzhen Commercial Daily)

• The latest survey report of the Bank for International Settlements shows that about 86% of central banks in 65 countries or economies have carried out digital currency research, and the number of central banks undergoing experiments or proof-of-concept has increased from 42% in 2019 to 60% in 2020. According to the information disclosed in the White Paper on China's Digital Renminbi Research and Development Progress (hereinafter referred to as the "White Paper") issued by the Central Bank of China in July, banks in Europe, United States and Asia-Pacific region has, in recent years, has dabbled in digital currency. The central bank's considerations and plans for digital currency. (Qingdao Finance and Economics Daily)

• Jing Junhai, secretary of the Jilin Provincial Party Committee, visited the Provincial Government Affairs Hall yesterday to learn more about government services and digital construction. During the investigation, Jing Junhai presided over the meeting. After listening to the situation, Jing Junhai emphasized that it is necessary to improve the digital infrastructure, actively promote new infrastructure such as blockchain and promote the construction of digital governance and expand the construction of digital Jilin. (Jilin Daily)

18/08/2021

Hot Off the Press

19 Institutions Can Now Operate Digital RMB Wallet!

• As of today, the number of institutions able to operate the digital RMB wallet has expanded to 19. Currently, users can choose two recharge methods; one is to recharge through a provincial wallet linked to a banking card, which requires real-time authentication and ID verification; the other is to recharge the wallet through the mobile banking app. Users may choose the 19 available banks, including six major banks and joint-stock banks such as China Merchants Bank, Ping An Bank, Shanghai Pudong Development Bank, China Guangfa Bank, and China CITIC Bank, as well as Bank of Jiangsu, Bank of Nanjing, and Bank of Suzhou, Bank of Changsha, Bank of Luzhou and other commercial banks. Some insiders speculate that the participation of small and medium-sized banks in the operation of digital renminbi was due to the good work of City Bank Clearing Services Co., Ltd. and Rural Credit Bank Capital Clearing Centre. These two institutions have further improved the efficiency of digital renminbi issuance. (21st Century Business Herald)

• The official public account of Shanghai Minhang Court disclosed a current case wherein the plaintiff purchased some Bitcoin "WKJ" through the Internet. Later, the plaintiff read that the People’s Bank of China had announced the Prevention of Token Issuance in conjunction with multiple ministries, calling for the suspension of activities related to the issuance of various tokens such as Bitcoin. The Plaintiff claims that the Bitcoin purchased had no value and that the transaction was illegal, thus invalidating the contract and requested a refund. Is the sale and purchase contract really valid? The Shanghai Minhang Court explained that the Article 127 of the Civil Code stipulates that "where the law has provisions on the protection of data and network virtual property, the provisions shall be followed." As far as this case is concerned, Bitcoin is not legally reparable. Currency cannot be used as legal tender in the market but are obtained through work; possessing dominance, exchangeability, exclusivity and having the attributes of virtual commodities. Therefore, the sales contract is valid. The court rejected the Plaintiff's lawsuit.

• The Deyang Municipal Party Committee announced their decision to adhere to Innovation-Driven, Quality Development and to Accelerate the Construction of a National Demonstration Zone for the Transfer and Transformation of Scientific and Technological Achievements. District Pioneer Zone, with the new generation of information technology such as blockchain to lead technological innovation and accelerate the development of the digital economy, and continuously promote the birth of new industries, new businesses and new models, from the Tianfu Data Valley digital economy industrial cluster, and build a nationally competitive digital Industry. (Deyang Daily)

• The latest survey report of the Bank for International Settlements shows that about 86% of central banks in 65 countries or economies have carried out digital currency research, and the number of central banks undergoing experiments or proof-of-concept has increased from 42% in 2019 to 60% in 2020. According to the information disclosed in the White Paper on China's Digital Renminbi Research and Development Progress (hereinafter referred to as the "White Paper") issued by the Central Bank of China in July, banks in Europe, United States and Asia-Pacific region has, in recent years, has dabbled in digital currency. The central bank's considerations and plans for digital currency. (Qingdao Finance and Economics Daily)

17/08/2021

Hot Off the Press

Key Projects to Transform the Digital Economy

• The Shanghai Municipal Commission of Economy and Information Technology has announced 12 new specialisations including hard core technologies, online economies and manufacturing models. Among them, the financial technology specialisation will promote the efficiency of the financial industry by value adding and entrenching the engagement of digital RMB application. In terms of financial technology, the Shanghai Financial Bureau has implemented multiple digital RMB applications, leading the country in terms of whitelisted customers, wallets and wallet transaction volume. In terms of digital infrastructure, it will accelerate the construction of intelligent computing power platforms.

• According to Chengdu Release, Chengdu is adhering to the concept of an industrial ecosystem, establishing a library of enterprise cultivation and accelerating the nurturing several platform-based enterprises and economic partners by creating several more suitable functional areas Leading industry development, building ecological carriers for industry exponential development, and new roadmaps for future industry development including blockchain have been identified These includes: 6G, privacy computing, blockchain, quantum computing, satellite Internet , Industrial Internet.

• Si Jinjin, Secretary of the Party Leadership Group and Dean of the Hangzhou Intermediate People's Court, updated the People's Congress on the status of the Hangzhou Court in the first half of 2021 and the work arrangements for the second half of 2021 at the 2021 One Government and Two Courts work report meeting. Si Jinjin said that the Hangzhou Intermediate People's Court begun construction of the digital courts in the first half of the year, and was at the forefront of Zhejiang Province's push for the reform of the Hangzhou Internet Courts, the iterative upgrade of Phoenix Smart Trial, and the expansion of blockchain smart contract application features. In the second half of the year, the Hangzhou Court will innovate and make every effort to promote the construction of a digital court. (Official Official Account of Hangzhou Intermediate Court)

• In order to implement the spirit of Henan, Governor Wang Kai's investigation and guidance of ten thousand people to help ten thousand enterprises, Luohe City announced plans to build a Modern Food City (Consultation Draft). The Opinions pointed out that it is necessary to promote the construction of the backbone nodes of the Spark Chain network and the second-level nodes of the food industry Internet identification analysis, carry out identification application, expanding the application features, business model innovation, blockchain-based industrial planning and other technical services to create a national industrial innovation centre.

16/08/2021

Hot Off the Press

Blockchain Financial Services Platform Brokered 9.3 billion RMB of Financing

• The Yuxi blockchain industry financial service platform created by Yuxi City of Yunnan Province in the province has facilitated loans of more than 9.3 billion yuan for both banks and enterprises. The platform launched a client APP, broadening financing channels, expands data sharing support, convenient user access methods and continuously updated features to provide a better experience for both banks and enterprises. At present, the platform has been successfully filed in the national blockchain information service, achieving a zero breakthrough in similar platforms in Yuxi. At present, there are 6,045 registered enterprises, 65 financial institutions onboarded, 104 financial products launched and 595 instances of financial institutions having granted financing to the tune of 9,3033.1 billion yuan. (Sina)

• An article, Shanghai Pudong Strives to Become a New Model of Modern Urban Governance, was published in The People’s Daily today. It points out that the smart management system integrated with the latest technology such as blockchain launched by the Pudong New Area Urban Operation Comprehensive Management Centre. It contains 57 features from data resources to governance elements presented in a holographic panorama. The platform shows a one-screen view of the city and one network to manage the whole city, forming a comprehensive urban operation management system with full coverage, all-weather, full-process in the event of peace or emergency.

• Approved by the National Leading Group for Philosophy and Social Sciences, the 2021 National Social Science Fund’s major project tender has been officially launched. This includes the digital renminbi and blockchain research objective which relies on the construction of a China-Africa community with a shared future to promote digital renminbi International Studies and research on the Community Home Care Model, Quality and Safety System Based on Blockchain. It is reported that the tender targets mainly relevant central ministries, commissions, colleges and universities directly under the Ministry of Education which includes provincial party schools, academies of social sciences, universities, key research bases, key military academies and social science research institutions. (Official Account of China Social Science Net)

• According to the official account of Ma'anshan Release, Zhang Yuefeng, secretary of the Maanshan Municipal Party Committee, pointed out, in the first half of the year, at the economic situation analysis and the Double Recruitment and Double Citation work promotion meeting that the industry must be strengthened, the momentum of the digital economy must be increased and the future of blockchain will be actively developed. Industry must promote the application and innovation of digital technology integration, and cultivate more high-tech enterprises.

• In order to further promote the creation of the digital RMB application pilot in Jinjiang District, Chengdu, this year’s Qixi Festival, the Industrial and Commercial Bank of China Chengdu Branch and the Jinjiang District Government launched the nation’s first feature-based digital RMB hardware wallet. Industrial and Commercial Bank of China Chengdu Branch specially invited 20 couples to experience the digital renminbi hardware wallets. The hardware wallet supports the one-touch payment function, balance inquiry and transactions. This is so that newcomers who register on their day of marriage can experience the technological wonder of digital renminbi payment. It is understood that this is the first application of a digital RMB hardware wallet in love economy. (People's Daily Online)

• The Hunan Provincial Department of Industry and Information Technology held a press conference and released the White Paper on the Development of Digital Economy in Hunan Province (2021). The White Paper pointed out that at the level of policy support, the Hunan Provincial Government has successively issued multiple policies and special action plans for industries such as blockchain to promote the application of common technologies such as blockchain in the production process, quality traceability, maintenance and repair and other fields. The White Paper also proposes that by 2025, Hunan's digital economy will be among the top 10 in the country, accounting for 45% of GDP. Hunan will then be built into a leading national digital economy innovation zone. (New Hunan)

13/08/2021

Hot Off the Press

Beijing 14th Five Year Plan Accelerates Application of Blockchain in Agriculture

• According to the website of the Beijing Municipal People’s Government, the Beijing’s Rural Revitalization Strategy Implementation Plan in the 14th Five-Year Plan has been officially issued. The Plan requires the development of smart agriculture, pushing for the innovation of application landscape, accelerate the application of new-generation information technologies such as blockchain in the agricultural field and promoting the digital transformation of agricultural production, operation and management services.

• The leaders of Chengdu held a city-wide economic meeting on the afternoon of August 12. The meeting emphasized the need to focus on key areas such as implementing more measures to boost consumption, launching a batch of digital renminbi for products made in Chengdu, etc. Promotional activities continue to alleviate the difficulties of service industries such as cultural tourism, catering, conventions and exhibitions. (Chengdu Commercial Daily)

• 10 departments including the Ministry of Industry and Information Technology issued the 5G Application Action Plan (2021-2023) to accelerate the transformation and upgrading of economic and social digitalization, networking, and intelligence. In the Intermediate People's Court of Guangzhou City, Guangdong Province, parties can participate in court trial through mobile phones and computers no matter where they are. This way of opening court sessions across time and space is due to the all-weather, online and non-contact smart cloud court trial system created by the collaboration of new technologies such as blockchain. (People's Daily Overseas Edition)

• According to the official website of the Tianjin Municipal People’s Government, the General Office of the Tianjin Municipal People’s Government has issued a notice on the Fourteenth Five-Year Plan for Scientific and Technological Innovation in Tianjin. All fields are accelerating the leap towards intelligence. Tianjin will focus on promoting the key core technologies of blockchain, smart contracts, consensus algorithms, encryption algorithms, distributed systems and other blockchain technologies, and building an autonomous blockchain system for logistics, finance, digital currency, and information. Carry out applicable systems in government affairs, economy and other scenarios. Strengthen the support of blockchain and other technologies for the transformation and upgrading of traditional industries such as aerospace, petrochemical and automobile industries. Comprehensively promote technological breakthroughs such as blockchain, firmly grasp more key core technologies in their own hands, build a high-end independent innovation platform, promote the transformation and upgrading of a new generation of information technology empowering industries, build an information technology innovation ecosystem, and promote the city development.

• According to the official website of the People's Government of Jianghan District, Wuhan City, Jianghan District has signed 3 key projects in order to build a demonstration zone for the innovation and development of the blockchain industry in Wuhan. In addition, Jianghan District will introduce or cultivate more than 2 leading domestic blockchain companies with core technologies in 2022, and cultivate 50 blockchain technology research and application companies.

12/08/2021

Hot Off the Press

Shanghai's 14th Five Year Plan

• Shanghai’s Fourteenth Five-Year Plan for the development of the Lujiazui Area in the Pilot Free Trade Zone has officially been released. The document sets out the plan for the strengthening of Lujiazui's three major areas: the highest level of internationalization, the most complete ecology and the best business services whilst accelerating the construction of a global RMB financial asset allocation centre. It will also promote the professional service industry to further expand into the new economy, with new business formats, fields, and actively build a good ecology in the fields of blockchain and privacy computing, empowering the new economy, and promote digital transformation, both online and offline, covering areas such as wholesale and retail, catering, cultural and tourism, education and medical care, public transportation, government payment, tax collection, and subsidy. (People's Daily Overseas Edition)

• According to the official account of Qingdao Public Security, as Qingdao Jiaodong International Airport will officially begin operation and citizens can use the Qingdao Metro App to authorize and verify their identity on the same day. Free subway ticket will be given when look for flight information at the airport. The organizer will join a number of banks to jointly launch a digital renminbi payment method. The event will last until December 31, 2021.

• The General Office of the Hebei Provincial Party Committee and the Provincial Government issued the 2021 China International Digital Economy Expo Plan, clarifying that the 2021 China International Digital Economy Expo will have the theme of Innovative Development and Digital Economy. The summit forum will focus on digital economy and hot topics such as peak carbon neutralization, digital finance, quantum information, blockchain, etc., and investment matching activities will also focus on key areas such as blockchain. (Yanzhao Metropolis Daily)

11/08/2021

Hot Off the Press

Pilot Digital RMB Success

• At the media briefing regarding the progress of China's digital renminbi, Fan Yifei, deputy governor of the People’s Bank of China, informed the press that as of June 30, the number of users of the digital renminbi pilot has exceeded 10 million citizens. In total, 20.87 million personal wallets and 3.51 million public wallets were opened which accumulated 70.75 million transactions amounting to 34.5 billion yuan. The application of digital renminbi is gradually expanding. At present, there are over 1.32 million digital RMB pilot payees, both online and offline, covering areas such as wholesale and retail, catering, cultural and tourism, education and medical care, public transportation, government payment, tax collection, and subsidy. (People's Daily Overseas Edition)

• In order to further solve the difficulties in applying for loans, which consist of various procedures and asymmetry of information for farmers, the People’s Bank of China at the provincial, municipal, county levels and forestry departments decided to create the Longyan National Inclusive Financial Reform Pilot Zone after multiple investigations and demonstrations this year. Using blockchain technology, Wuping County, the first county in the country for forest reform, took the lead in launching a pilot project for the construction of a forestry financing blockchain platform to create a financial service project for rural revitalization. With the joint efforts of the local government and financial institutions, the platform was successfully completed and put on trial operation last month. (Sina)

• The Regulations for the Promotion of Digital Economy in Guangdong Province were adopted at the 33rd meeting of the Standing Committee of the Thirteenth People's Congress of Guangdong Province and will come into force on September 1. In an interview, Pan Helin, executive dean and professor of the Institute of Digital Economy of Zhongnan University of Economics and Law, believes that the Regulations delineate the responsibilities and tasks of the Guangdong provincial government at all levels in promoting the digital economy with detailed statistics from multiple perspectives. The economic development policy is a document for the future development of the digital economy in Guangdong Province. Regarding the digital transformation of industrial clusters, the Regulations have made clear provisions for industrial clusters to use the Internet to connect all elements including the entire industrial and value chains. This aims to focus on cultivating a new generation of strategic industrial clusters such as electronic information, software and information services, ultra-high-definition video displays, semiconductors and integrated circuits, intelligent robots, blockchain and quantum information, and digital creativity. (Nanfang Daily)

• Recently, a blockchain Certificate of Export Goods Agent was successfully issued by Foshan Yidatong Enterprise Services Co., Ltd. which marks the successful launch of the blockchain export tax rebate for the Guangdong tax system. As one of the pilot regions for the export tax rebate system of the national taxation blockchain, the Guangdong Provincial Taxation Bureau has been committed to expanding its application in the export tax rebate system and further improving the efficiency of disbursing tax rebates. The blockchain technology is mainly used in the issuance of two types of certificates, Agent Export Goods Certificate and Entrusted Export Goods Certificate. The relevant person in charge of the Guangdong Provincial Taxation Bureau stated the next stage will consist of working out the kinks in the mechanism of tax rebate system's data sharing and to continue exploring the potential of blockchain and other technologies in other business areas that could better serve Taxpayer service. (China Taxation News)

• Xingzhi New Economy Cloud Summit has officially opened. The Xingzhi New Economy Cloud Summit focuses on two key industries that is healthcare and digital technology. Jiang Dongxing, deputy director of the Science and Technology Regulatory Bureau of the China Securities Regulatory Commission, said in a keynote speech that while the current digital transformation has become a consensus, but there is no clear idea and solution as to how the securities and futures industry can achieve digital transformation. The 14th Five-Year industry science and technology development plan clarified six goals and six development ideals whilst also pointing out the direction of future digital transformation in the industry. Specific to the development, additional focus will be put on emerging technologies in cloud computing, big data, artificial intelligence and blockchain industries. It should also increase research on financial technology engineering and the usage of technology to integrate the entire industry. The knowledge is systematically sorted out and fully integrated, and the final method be used to promote the development of financial technology and achieve the goal of digital transformation of the industry. (China Net)

• The public resource trading service platform of Xiong'an New Area has issued a municipal construction project announcement, involving a total of 6 projects. According to the project service requirements for the bid, the relevant construction project needs to fully consider the requirements of digitalization and intelligence, based on big data and blockchain: the building information model (BIM) data generated in the whole process needs to be unified into the new city Information Model (CIM) management platform; the whole process of fund management of this project is carried out through the blockchain fund management platform. (Published by Xiong'an)

10/08/2021

Hot Off the Press

Strategic Expansion of Blockchain and Quantum Information

• The Information Office of the People's Government in Guangdong Province held a press conference relating to the Fourteenth Five-Year Plan for the Development of Manufacturing in Guangdong Province. The 14th Five-Year Plan sets out how Guangdong will continue to strengthen and optimize strategic industries, cultivate and expand emerging industries. These emerging industries include semiconductors and integrated circuits, high-end equipment manufacturing, smart robots, blockchain and quantum information, cutting-edge materials, new energy, laser and additive manufacturing, digital creativity, safety emergency and environmental protection, precision instruments and equipment. (China News Network)

• According to the National Fitness Plan (2021-2025) issued by the State Council recently, the Beijing Municipal Bureau of Sports has recently launched the second 8.8 Beijing Sports Festival, which will last until 11th August. According to the Beijing Municipal Sports Bureau, the digital renminbi retail area was opened for the first time in this festival event to provide citizens with a new retail experience that is smart, safe and convenient.

• Since the 18th National Congress of the Communist Party of China, General Secretary Xi Jinping has repeatedly emphasized that the red gene must be passed on from generation to generation. To inherit the red gene, it is necessary to effectively strengthen the protection, mining, development and utilization of red resources to make them livelier and more popular. The first is to strengthen systematic mining, and strengthen the investigation and sorting of tangible red resources such as revolutionary venues and red documents. The second is to strengthen digital protection, make full use of modern information technology to strengthen the restoration and protection of red resources, and establish red resource databases and gene banks. Promote the digital presentation project of red culture, and make full use of emerging technologies such as artificial intelligence, cloud computing, and blockchain to repair classic red movies and televisions to meet the needs of red resource protection in the digital and intelligent era. The third is to strengthen the creation of red cultural products and integrate the red gene into the whole process of cultural and creative products. (Hunan Daily)

• Cai Huiyong, Party Secretary and President of the Beijing Financial Court, stated at the press conference of the Beijing Financial Court on August 10, that the Beijing Financial Court formulated and issued the Provision of Judicial Services and Guarantees for the Reform and Innovation of the Financial Sector in the Construction of the Two Districts in Beijing. Several Measures (hereinafter referred to as "Measures"). Among them, the Measures focus on financial technology innovation and proposes to strengthen the protection of rights and interests such as legal digital currency, network virtual property, and data in the financial field, so as to ensure that financial technology innovation is carried out on the right track according to the rule of law. (China Securities Network)

• The Government Affairs Hall of Ji'an Administrative Service Centre formally implemented the blockchain, electronic license and unlicensed processing system. The city's first batch of 20 licenses, including ID cards, household registration books, marriage certificates, residence permits, and driving permits, was issued. 400 frequently used services are handled without a license. Since the beginning of this year, the Ji'an Administrative Service Center has reformed and innovated, replacing manual submissions with online forms, with the electronic certificates issued by the corresponding government departments and are automatically retrieved from the government database. The people and enterprises do not need to submit physical certificates again. The creation of unlicensed handling government affairs is a key measure of Ji'an City's government service brand this year. At present, Xiajiang, Taihe and other counties (cities, districts) are also gradually implementing the same system simultaneously. (Jiangxi Daily)

• Blockchain electronic invoices ushered in its third anniversary in Shenzhen. Up to now, the Shenzhen blockchain electronic invoice system has issued more than 58 million invoices, with an average of more than 120,000 invoices per day. The cumulative invoice value is nearly 80 billion yuan, covering more than 100 industries such as retail, catering, transportation, real estate, medical treatment, and Internet subscription with access to more than 32,000 enterprises. In the future, the Shenzhen Municipal Taxation Bureau will continue to explore in depth in pioneering the transformation of management service efficiency using blockchain technology to empower economic and social development and to use it as the core supplier of service products to create an international model of informatization Shenzhen using cloud engineering. (Shenzhen Evening News)

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