Pay your salary in digital RMB!, An additional distribution of branch salaries
The People's Bank of China Guangzhou Branch's WeChat official account recently released news that under the guidance of the People's Bank of China Guangzhou Branch, the People's Bank of China Meizhou Central Branch, Meizhou Finance Bureau and Meizhou Finance Bureau jointly promoted the Construction Bank Meizhou Branch to assist Meizhou Finance Bureau and successfully paid full digital RMB salaries to cadres and workers.
This is the first time in Guangdong Province that digital RMB salaries have been distributed to in-service civil servants through the financial unified salary system.
Since the beginning of this year, many places have been exploring the use of digital RMB to pay salaries. At the same time, the digital RMB app accelerates interoperability with merchant platforms and payment platforms, enabling daily payment scenarios such as charging water and electricity bills and paying taxes.
Accelerated landing of new scenes
![Pay your salary in digital RMB!, An additional distribution of branch salaries](https://a5qu.com/upload/images/26c14af6258999aa9fbd5017e1902187.jpg)
A reporter from China Securities News found that Meizhou, Guangdong Province successfully implemented the province's first digital RMB unified salary payment scenario in July this year. Previously, the People's Bank of China Meizhou Central Branch and some county branches under its jurisdiction have taken the lead in fully paying employee salaries in digital RMB.
It is understood that as of the end of May, Meizhou City has opened a total of 151000 personal digital RMB wallets and 12100 corporate RMB wallets, with 511900 circulation businesses and a total amount of 102.05 million yuan. 29400 merchants and stores supporting digital RMB have been established, and multiple convenient and beneficial scenarios such as digital RMB payment for gas, medical, miscellaneous fees, and water fees have been set up.
In April, the Financial Supervisory Bureau of Changshu City and the Finance Department of Changshu City jointly issued a notice on the implementation of full payment of wages in digital RMB. It was mentioned that starting from May this year, all in-service civil servants, staff of public institutions, and staff of state-owned enterprises at all levels in Changshu City will be fully paid in electronic RMB.
Previously, the pilot implementation plan for digital RMB in Xuzhou City also had a similar statement, "promoting the upgrading of the digital RMB acceptance environment for financial institutions, and supporting the application of digital RMB in financial services such as salary payment, wealth management purchasing, insurance coverage, and compensation.". In addition, Jinan, Yiwu and other places have also successively released pilot plans for digital RMB this year.
![Pay your salary in digital RMB!, An additional distribution of branch salaries](https://a5qu.com/upload/images/74f65df42a3575046f717a9f76a4d955.jpg)
Not only for salary payments, but also for the opening of more application scenarios for digital RMB. Taking Shenzhen as an example, as one of the first pilot cities for digital RMB, the pilot application of digital RMB in prepaid business areas in Shenzhen has recently been promoted and launched. By deploying smart contracts on digital RMB wallets, it can provide solutions to prevent merchants from misappropriating funds and protect user rights for prepaid consumption service scenarios such as 10000 yuan beauty cards, fitness cards, and haircut cards.
The reporter found that in July, the Digital RMB APP had launched a SIM card hard wallet product. The phone can be used in situations such as network disconnection, screen on, screen off, and power off without opening payment software. Payment can be completed with just a touch of the phone.
Continuous platform expansion
The reporter found that as of now, less than 100 merchant platforms for digital RMB have connected to 129, including Haruo Chuxing, Ctrip, Suning.com, Taobao, and Didi Chuxing, further achieving interoperability with major platforms.
![Pay your salary in digital RMB!, An additional distribution of branch salaries](https://a5qu.com/upload/images/623f561ed4c6c6525c0d9c25630a33b4.jpg)
On the Taobao app, the reporter used digital RMB for a shopping experience. After selecting the products on the Taobao app, the payment channels available for the order can now be used for transactions using digital RMB.
Industry insiders generally believe that digital renminbi will become a major trend in the future, ushering in a period of rapid development.
"Since 2023, the digital renminbi has achieved accelerated development in multiple dimensions and may enter a period of rapid development in the next three years, which is expected to empower more sub sectors of the digital economy." CICC analyst Yao Zeyu said that in terms of landing scenarios, the digital renminbi has extended from daily C2B payments to areas such as enterprise fund circulation, government affairs, and livelihood services, and has made certain breakthroughs and innovations in cross-border payments and smart contracts.