Many celebrity representatives and members of the Chinese People's Political Consultative Conference put forward suggestions on the future development of digital renminbi

  expand the scope of digital renminbi pilot

projects to

promote cross-border use of digital renminbi

  Since October last year, digital renminbi has launched multiple rounds of red envelope pilot activities for the public in Shenzhen, Suzhou, Beijing, Chengdu and other places, which has aroused social attention.

During the "Two Sessions" across the country this year, many representatives and members of the CPPCC made suggestions on the future development of the digital renminbi.

  Recommendation 1: Digital wallets must be "soft" and "hard"

  Zhang Yunyong, member of the National Committee of the Chinese People's Political Consultative Conference and general manager of China Unicom Group Product Center, pointed out that in the future, digital wallets will be "soft" and "hard".

"Soft" refers to software wallets in the form of mobile apps; hard is a "hard wallet" that does not rely on mobile phones, but relies on chips. Elderly people who do not use smart phones can also use "hard wallets."

He believes that the security and universality of digital wallets in the future will be a major trend, which will make efforts for the adaptive development of the digital economy and the elimination of the digital divide.

  Gong Fuwen, a member of the National Committee of the Chinese People's Political Consultative Conference and vice president of the Shaanxi Provincial Higher People's Court, pointed out in the proposal on digital renminbi that attention should be paid to bridging the "digital divide" among the elderly.

The digital renminbi should actively innovate in technology, scenarios, and applications, and cover more people in the pilot program. The needs of special groups such as the elderly should be fully considered to reflect stronger tolerance.

  Recommendation 2: Promote pilot applications of digital RMB

  Many deputies and members of the CPPCC have suggested that the pilot application of digital RMB should be further promoted and the scope of the pilot should be expanded.

  Gong Fuwen proposed that we should attach importance to pilot applications in vast rural areas.

The digital renminbi pilot program cannot "emphasize cities and light rural areas", and cannot "easy asylum". It should focus on various application scenarios related to "agriculture, rural areas, and farmers", so that digital renminbi can benefit the vast majority of rural areas, agriculture, and farmers.

  Yan Zhi, a representative of the National People's Congress and chairman of Zall Holdings Co., Ltd., suggested that Wuhan should be included in the digital RMB pilot city, the application pilot should be launched quickly, and Wuhan should be deeply involved in the technology research and development of the pilot project, and the financial technology should be actively used to promote the digital transformation of finance.

  Recommendation 3: Use digital renminbi for cross-border transactions

  Li Minbin, a member of the National Committee of the Chinese People's Political Consultative Conference and co-CEO of the Bank of East Asia, suggested that the digital renminbi should be piloted to cities in the Greater Bay Area and be further used for cross-border financial management products transactions.

Promote the flow of funds in the Greater Bay Area by realizing the cross-border use of digital currency.

  Hong Kong has not yet begun to establish a docking mechanism with the mainland for digital RMB. Li Minbin hopes to speed up the relevant preparations.

As an international financial center, if Hong Kong can play a role in the development of digital renminbi, it will enhance the international competitiveness of digital renminbi.

  Bai Hexiang, deputy to the National People’s Congress and president of the Guangzhou branch of the People’s Bank of China, also suggested that in the construction of an international financial hub in the Guangdong-Hong Kong-Macao Greater Bay Area, explore the application of digital RMB cross-border payment, the financial “single pass” mechanism, and the “new shares” and “insurance” "Carbon City Link" interconnection arrangements and other reforms and innovations.

  Recommendation 4: Keep the bottom line of digital RMB security

  Gong Fuwen pointed out that the important advantage of digital renminbi over electronic payment is anonymity and controllability, and its complete transaction information is only controlled by the central bank.

He suggested that while piloting the digital renminbi information protection legislative work, formulate relevant laws and regulations to find a balance between citizen privacy protection and national security to ensure that the legal privacy and rights of financial consumers are not infringed.

  He also believes that digital renminbi should increase security research and investment in the pilot, comprehensively use the most advanced information security technology, and carry out the construction of a security system in accordance with risk dispersion, loss assumptions, dynamic evolution, and both offensive and defensive ideas, so as to effectively resist cyber attacks. , To firmly hold the bottom line of digital RMB security.

  Text/Reporter Cheng Jie, Coordinator of this edition/Xu Feng