ChainCatcher news, according to Jinshi reports, the "Yongxing-Guofu-Ningbo Intellectual Property Phase 1 Asset-Backed Special Plan (Specialized and Innovative)" managed by Yongzheng Asset Management and sold by Yongxing Securities held its listing ceremony on the Shanghai Stock Exchange, with an initial issuance scale of 138 million yuan, a term of 1 year, and a coupon rate of 2.2%. The product's senior debt rating is AAA, making it the first intellectual property securitization product issued in the form of digital renminbi nationwide, and it marks a breakthrough for Ningbo's intellectual property securitization project.

ChainCatcher news, according to the "Maoming City" WeChat public account, Maoming City (a prefecture-level city in Guangdong Province) is continuously promoting the pilot work of digital RMB. Recently, I learned from the Maoming branch of the People's Bank of China that the party and government agencies and public institutions in Maoming City have fully implemented the distribution of subsidies in digital RMB.In July this year, the Maoming Municipal Finance Bureau and the Maoming branch of the People's Bank of China jointly issued the "Notice on the Pilot Work of Distributing Subsidies in Digital RMB." According to the requirements of the "Notice," the party and government agencies and public institutions in Maoming City began to fully implement the distribution of subsidies in digital RMB starting in September. By the end of October, a total of 359 budget units in the city had implemented the distribution of subsidies in digital RMB, with a cumulative total of 75,883 instances of subsidies distributed to administrative agencies and public institutions, amounting to 81.738 million yuan.At the same time, Maoming is also promoting the quality, expansion, and efficiency of the digital RMB pilot work, expanding multi-channel payment methods. In the next step, Maoming City will continue to promote the distribution of salaries in digital RMB for all budget units in the city. Additionally, it will actively promote the construction of a digital RMB application demonstration area in the eastern section of the Maonan River in Maoming City.

ChainCatcher news, according to Jinshi reports, based on the Shanghai financial official WeChat account, to implement the overall requirements of the 20th National Congress of the Communist Party of China regarding "steadily advancing the research and application of digital renminbi," and according to the People's Bank of China's deployment of the digital renminbi pilot work, the Shanghai Municipal Government has formulated a new round of action plan for the pilot application of digital renminbi and held a work deployment meeting on November 4.The action plan clarifies that it aims to further steadily promote the innovation of digital renminbi applications and services, striving to basically form a digital renminbi ecosystem by the end of 2025 that has a wide coverage of scenarios, good payment service experience, rich innovative applications, and active participation from all parties.

ChainCatcher news, according to China Business News, HarmonyOS has announced the establishment of an open ecosystem for meta-services, which includes digital renminbi. This means that HarmonyOS users can use the corresponding services without downloading the digital renminbi app, allowing them to make payments with digital renminbi as soon as they get their phones, innovatively achieving a deep integration of legal digital currency functions with the mobile operating system.It is understood that in terms of cooperation with the HarmonyOS system, the next step for digital renminbi will be to strengthen its deep integration with the HarmonyOS system, enrich the application and management functions of the digital renminbi wallet, jointly develop financial middleware, and support interaction with other financial applications, thereby providing safer and more convenient digital renminbi services. At the same time, it will enhance risk monitoring and risk prevention capabilities, using security detection technology to ensure the authenticity and reliability of the mobile operating environment, while protecting user privacy and security, improving the central bank's penetrating regulatory capabilities for digital renminbi, and achieving comprehensive business management and risk prevention. In addition, digital renminbi will help HarmonyOS strengthen its financial service ecosystem, covering more smart IoT devices through the integration of digital renminbi and open-source HarmonyOS.It is understood that through cooperation with HarmonyOS, digital renminbi will form a replicable and promotable model, advancing in-depth cooperation with other domestic mobile phone manufacturers, achieving the embedding of digital renminbi in a componentized form within the underlying operating systems of domestic phones, and building central bank management capabilities that adapt to the open ecosystem of digital renminbi. On this basis, it will continuously improve the cooperation model with mobile phone manufacturers and operating system vendors, creating a collaborative and win-win ecosystem.

ChainCatcher news, Mu Changchun, director of the Digital Currency Research Institute of the People's Bank of China, recently pointed out in an article in the "Current Affairs Report" that the digital renminbi features a dual-layer operational framework, combining both account and value models. In the future, the digital renminbi will deepen its development in areas such as cross-border payments and smart contracts, aiding in the internationalization of the renminbi and the construction of a unified domestic market.The digital renminbi integrates both account and value models and achieves a unified ledger through data capability construction: under the account model, it can be integrated and interconnected with the traditional banking account system; under the value model, it can facilitate value exchange in the form of currency strings, providing smart payments on the blockchain and usable in extreme offline scenarios such as "no network" and "no electricity," optimizing traditional trade finance processes and supporting cost reduction and efficiency enhancement.

ChainCatcher news, as of July 2024, the number of personal wallets for China's central bank digital currency (CBDC) e-CNY has reached 180 million, with a transaction volume exceeding 7.3 trillion yuan (approximately 1.02 trillion USD).According to Mu Changchun, director of the Digital Currency Research Institute of the People's Bank of China, the digital yuan operates through account and value models, supports smart payments, and can be used in environments without network or electricity, demonstrating strong adaptability and flexibility.

ChainCatcher news, according to Tencent News "Frontline" report, in response to the rumors that "the central bank's digital renminbi platform will distribute digital asset dividends," the Digital Currency Research Institute of the People's Bank of China has issued a stern denial.Relevant individuals emphasized that the institute has never released such information, nor has it organized any registration or subscription for "digital assets," or distributed "digital asset dividends." Previously, criminals misused the name of the institute to release false information involving "joint approval by the Ministry of Finance and the National Data Bureau" and "launching the second batch of asset registration review." The official reminder urges the public to remain vigilant against fraud and reiterates that the official download channels for the digital renminbi App are limited to major application markets and the official website.

ChainCatcher message, the full text of the revised "Regulations on Promoting the Construction of an International Financial Center in Shanghai" has been released, which states that the Shanghai Municipal People's Government shall cooperate with the central financial management departments to steadily promote the research and application of digital RMB in the city, build functional platforms such as a digital RMB innovation and operation center, facilitate the cross-border use of digital RMB, study applications of digital RMB supporting blockchain value system payments, and promote more projects to be included in the multilateral central bank digital currency bridge.The local financial, development and reform, finance, commerce, transportation, data, civil affairs, education, and other departments of Shanghai should cooperate with the central financial management departments in the city's institutions to promote the application and promotion of digital RMB, innovate and enrich the application scenarios of digital RMB.The local financial department of Shanghai should cooperate with relevant municipal departments to support financial institutions, fintech companies, and others in participating in the construction of urban computing power infrastructure, blockchain infrastructure, public data open infrastructure, and so on. The city supports financial institutions, financial infrastructure operation institutions, and others in strengthening the application of technologies such as blockchain, artificial intelligence, and big data, improving risk control systems, and expanding the supply of financial products and services.

ChainCatcher news, according to the Zhejiang Procuratorate public account, recently a criminal gang in Shaoxing City, Zhejiang Province illegally cashed out over 200,000 yuan within four days using digital RMB accounts. Several individuals lured merchants with digital RMB accounts through shopping and casual conversations. After the merchants agreed to cash out, they first converted a certain amount of their own money into virtual currency as a deposit to transfer to the upper-level operator, and then sent the digital RMB payment code to the upper-level operator. Once the fraudulent funds entered the merchant's digital RMB account, the merchant deducted a handling fee ranging from 1% to 1.5% and cashed out the corresponding amount. The Yuecheng District Procuratorate filed a public prosecution, and the court sentenced Yuan, Zhang, and Kou to fixed-term imprisonment ranging from one year and four months to seven months for the crime of concealing and disguising criminal proceeds, along with fines.Prosecutors remind the public to enhance their understanding of digital RMB, pay attention to protecting personal information, and report any suspicious situations promptly to safeguard their property security.

ChainCatcher news, Economic Daily published an article titled "Accelerate the Application of Digital Renminbi and International Cooperation".The article points out that it is necessary to strengthen cooperation with economies that are major trade partners of our country, economies that have a demand to reduce reliance on other major currencies, and economies that have a demand for currency diversification in international transaction pricing, clearing, and foreign exchange reserves. It advocates for actively and steadily carrying out pilot projects for cross-border payment clearing and international cooperation with digital renminbi through multiple measures, expanding the coverage and application of digital renminbi in regional economic trade and investment cooperation, enhancing the inertia and stickiness of using digital renminbi, researching and analyzing the reserve demand for digital renminbi from trading partner countries, and better considering the promotion of digital renminbi in the construction of the cross-border payment system and the cross-border receipt and payment information management system for renminbi.In addition, further research should be conducted to improve the application of multilateral central bank digital currency bridge solutions in cross-border fund allocation, international trade settlement, and foreign exchange transactions, addressing the existing challenges of low security, low transparency, low efficiency, and high costs in several mainstream models of cross-border payment and clearing.

ChainCatcher news, according to Caixin, the Hong Kong Monetary Authority announced on May 17, 2024, that the pilot program for digital renminbi (e-CNY) has been expanded to all Hong Kong citizens starting today. Users can register and activate their accounts using a Hong Kong mobile number, which can be used not only in Hong Kong but also for cross-border payments at e-CNY-supported merchants in mainland China without real-name verification. Currently, digital renminbi is being piloted in 26 regions across 17 provinces and cities in mainland China, making Hong Kong the first region outside mainland China where all local residents can open an e-CNY wallet.

ChainCatcher news, the Hong Kong Monetary Authority stated that users can now download and install the "Digital Renminbi" (English name: e-CNY) wallet application through smartphone app stores, and top up in Renminbi via Faster Payment System through 17 retail banks in Hong Kong. Some banks that provide Faster Payment System top-up services can offer customers real-time exchange services, allowing Hong Kong dollars to be directly exchanged for Renminbi to top up the digital currency wallet, with the exchange rate displayed in real-time for customer reference. Hong Kong residents only need to register with a Hong Kong mobile number to open a digital currency wallet in real-time, without the need for real-name registration or opening a mainland bank account, and can top up the digital currency wallet via Faster Payment System. Currently, the pilot supports four types of personal wallets opened by Hong Kong users, which can be used for retail payments, not limited to the Greater Bay Area, but can also be used for consumption in other mainland pilot areas, although personal transfers are not allowed.

ChainCatcher news, the Hong Kong Monetary Authority announced further progress in cooperation with the People's Bank of China on the cross-border payment pilot of the digital renminbi, expanding the pilot scope of the digital renminbi in Hong Kong, facilitating Hong Kong residents to open and use digital renminbi wallets, and adding value to the digital currency wallets through "Faster Payment System."With this expansion of the pilot scope, users can now open and use personal digital currency wallets in Hong Kong simply by using a Hong Kong mobile phone number. The digital currency wallet can be used for cross-border payments but cannot be used for transfers between individuals. Hong Kong users can add value to their wallets through the local 17 retail banks via "Faster Payment System." The digital renminbi can be used not only in the Greater Bay Area but also in other pilot areas in the mainland.

ChainCatcher news, according to Jinshi reports, the Hong Kong SAR government's new financial budget was announced today. The Financial Secretary of the Hong Kong SAR, Paul Chan, stated that the "digital renminbi" will expand its pilot scope in Hong Kong, allowing citizens to conveniently open and use digital renminbi wallets, and to top up through "Faster Payment System," further enhancing cross-border payment efficiency and user experience.

According to ChainCatcher news, citing official WeChat messages, to further support the application scenarios and ecological construction of the digital renminbi, WeChat Pay has partnered with hundreds of acquiring institutions to further expand the range of merchants that can use digital renminbi within WeChat. Currently, millions of merchants covering various fields such as life services, utility payments, dining and entertainment, and transportation, including scenic spots, museums, multiple local utility payment platforms, T3 Travel, Hello Bike, SF Express, and Southern Power Grid, are included. Support for various life services and utility payments will further enrich the daily usage scenarios of digital renminbi, allowing users to experience digital renminbi transactions through WeChat's convenient mini-program scenarios.

ChainCatcher news, the Monetary Authority of Singapore (MAS) announced new digital finance and capital market initiatives, including a cross-border digital yuan pilot between China and Singapore, allowing travelers from both countries to use digital yuan for tourism consumption in Singapore and China, in order to expand financial cooperation with China.

ChainCatcher news, according to Jiemian News, HSBC China announced through its official WeChat account that it has become one of the first foreign banks to launch digital RMB services. Fubon Bank also officially announced yesterday that it has successfully completed the construction and application of the digital RMB system. So far, HSBC China, Hang Seng China, Standard Chartered China, and Fubon Bank have been included in the first batch of pilot programs for "digital RMB" services.It is reported that the aforementioned four foreign banks have connected to the digital RMB APP and support binding debit cards. This means that the digital RMB services of foreign banks have officially expanded from the B-end to the C-end.

ChainCatcher news, according to Caixin, cross-border payment infrastructure provider Thunes announced a joint launch with China Construction Bank of a cross-border payment and receipt solution based on digital RMB as the application carrier for customers. This solution includes scenarios for receiving digital RMB payments for cross-border e-commerce exports and remitting digital RMB for personal study abroad.

ChainCatcher news, according to China Daily, with the first crude oil transaction settled in digital yuan on Thursday, China's currency internationalization process has taken a significant step forward. By purchasing 1 million barrels of crude oil, China National Petroleum Corporation completed the first international crude oil transaction settled in digital yuan at the Shanghai Petroleum and Natural Gas Exchange (SHPGX). However, the announcement released by the Shanghai Petroleum and Natural Gas Exchange on Friday did not disclose the exact value of the transaction or the identity of the seller.The Shanghai Petroleum and Natural Gas Exchange announced on its website that the transaction is part of its efforts to meet the Shanghai municipal government's requirements for using electronic yuan in cross-border trade.