Promotion

The Guangzhou Municipal Financial Office issued the "Digital Currency 2.0 Plan," exploring the promotion of using digital renminbi as a prepaid payment method throughout the city

ChainCatcher news, the Financial Office of the Guangzhou Municipal Committee recently issued the "Action Plan for Further Promoting the Digital Renminbi Work in Guangzhou" (referred to as the "Digital Currency 2.0 Plan"). The "Action Plan" clarifies the main tasks of the pilot work from seven aspects.Further leverage the functional roles of the member units of the Guangzhou Digital Renminbi Work Leading Group. Each unit will formulate work plans for innovating and promoting digital renminbi application scenarios in their respective fields, implementing no less than one application scenario in their areas of responsibility.Explore promoting the use of digital renminbi as a payment method for prepaid services citywide.Vigorously create various digital renminbi application demonstration zones.Further enrich and improve application scenarios for digital renminbi in the transportation sector.Promote innovative digital renminbi application scenarios in the port and shipping sector.Actively advance the application of digital renminbi in cross-border payment and other businesses. Actively promote the participation of digital renminbi operating institutions and related enterprises in the pilot testing of the multilateral central bank digital currency bridge in the Guangzhou area. The Guangzhou Commodity Exchange's commodity trading platform and the Guangzhou Shipping Exchange's digital renminbi application will be implemented.Vigorously enhance the foundational strength of the digital renminbi industry.

Hong Kong Legislative Council member Wu Jiezhuang advocates for the promotion of "Digital Pass" to allow mainland investors to buy and sell digital assets recognized by Hong Kong

ChainCatcher news, according to Hong Kong Wen Wei Po, Hong Kong Legislative Council member and chairman of the Web3 and Virtual Assets Development Task Force, Wu Jiezhuang, stated that regarding how the Hong Kong virtual asset market can serve the needs of the country in the future, it is possible to explore the introduction of a "Digital Pass," which would open a special channel allowing mainland investors to buy and sell digital assets recognized by Hong Kong. This would further enrich the connotation of connectivity between the mainland and Hong Kong, while also benefiting financial innovation and cultivating new productive forces.The mainland prohibits cryptocurrency trading; however, under "one country, two systems," cryptocurrency trading in Hong Kong is legal. Similarly, while gambling is banned in the mainland, it is legal for mainland citizens to gamble in Macau. Therefore, Wu Jiezhuang believes that the connectivity of financial markets between the mainland and Hong Kong, and whether to allow mainland citizens to invest in virtual assets recognized by Hong Kong in the future, will mainly depend on the overall development of the international situation. He believes that the mainland will adjust its policies in a timely manner. Currently, the United States is actively embracing digital assets, and the mainland also places great importance on developing the digital economy, viewing it as a new productive force. The SAR government is also listening to the voices of the industry and embracing the new track of the digital economy.
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