Hainan: Digital renminbi pilot project launched across islands, new financial management and new technology

On November 23, the website of the Hainan State Government announced the "14th Five-Year Hainan Economic Crisis Improvement Plan" (hereinafter referred to as the "Plan"). The aim is to improve specialist financial services such as financial services, financial services, technology finance, treasury finance and maritime finance. Support the application of "sandbox monitoring".

01,Island-wide digital renminbi pilot project

The plan includes conducting a renminbi pilot project across the island, exploring renminbi application scenarios with the characteristics of Hainan free trade port, and developing a renminbi digital ecosystem. At the same time, a digital yuan cross-border payment pilot has been set up in the Hainan Free Trade Port to improve the efficiency of cross-border payments.

The plan calls for exploring previous experiences using digital yuan bank accounts to promote green food. Currently, the environment for accepting cash in South Africa is improving steadily and the number of non-cash payments made throughout the year has increased significantly compared to the end of 2015.

02,Improving the use of FinTech

The initiative encourages financial institutions to provide financial services to consumers to develop specialized financial products based on their strengths, use financial technology to research and develop new products, and so on to improve resources and services. financial. Improve the construction of consumers' financial infrastructure, using big data, intelligence and other financial technologies to support the establishment of risk management and credit training, research and support bank loans , advertising and the Internet financial platform to recognize credit. Information sharing and optimization as an “available and invisible” consumer credit environment.

Strengthen the use of new technologies in the financial system, promote the development of technology technology industry and achieve deepening of the use of technology and financial support. Accelerate the development of financial resources, promote the use of large-scale data migration and improve the digital scale of the financial sector. Optimize financial technology infrastructure, systematically deploy the creation of a financial technology infrastructure with big data as the core, explore the innovation of the data-driven financial service model and gradually build a more financial big data business ecosystem independent and more manageable. Collaborate with the international regulator for cross-border data transfer and develop standards and policies for data usage, data exchange, data security and financial blockchain in Hainan Province.

With a focus on farm businesses today, she uses financial technology to improve online and offline farm financial services, and works to expand financial services for consumers from top to bottom in large corporations.

03,Expansion using supervisory techniques

The plans include new financial management, widespread use of big data, blockchain, intellectual property and other technology applications, improving data management capabilities, standardization, further expansion and expanding financial management technology; and strengthening behavioral and behavioral surveillance. . You should. supervision of works. Encourage financial companies to use information technology to improve their compliance and detection and prevention risks, improve digital compliance and smart capabilities. and classify, and meet financial management requirements.

Extend the application of financial technology in financial risk management and improve financial risk assessment and risk prevention capabilities at Hainan Free Trade Port. Use research and technology to improve credit management, strengthen data sharing between financial institutions, credit and rating agencies, develop and improve sanctions for non-profit organizations and play an important role of credit in financial risk. Identification, surveillance, control and disposal.