IT House reported on April 23 that the first batch of digital RMB online loans in the country recently landed in Qingdao. The pilot application of this digital RMB financing scenario,It is the first closed-loop application of digital renminbi in financial institutions’ personal and corporate financing scenarioswhich effectively enhances the inclusiveness and availability of digital RMB.
Recently, Shandong Guosheng Small Loan Co., Ltd. (referred to as “Guosheng Small Loan”) and Industrial and Commercial Bank of China Qingdao Branch jointly completed the pilot application of digital renminbi online small loan scenarios.
Recently, a hotel management company in Qingdao and Ms. Huang, a citizen of Qingdao, received 50,000 yuan of small loans and personal consumption loans from Guosheng Microloan respectively. Both of these loans were issued in digital renminbi, which is the first closed-loop application of digital renminbi in the financing scenario of financial institutions. Qingdao has become the first city in the country to “try out” the application of digital renminbi in micro-loan scenarios.
It is understood that after the user’s online loan application to Guosheng Small Loan is approved, the payment is collected through the digital RMB wallet established in ICBC. In terms of repayment, users can repay in digital renminbi through the Guosheng small loan channel or the ICBC e-payment platform.
For customers, trying to apply for online digital RMB loans has added new channels for collection and payment, with fast speed and high efficiency, further increasing the convenience and availability of inclusive finance.
As a micro-loan company, the application of digital renminbi in micro-loan scenarios is expected to save the channel costs originally incurred through third parties. In addition, the convenience of digital renminbi wallet opening and the loose coupling of accounts will help them. It is more convenient and lower-cost to reach customers, and at the same time, it can ensure the closed-loop circulation and use of credit funds are authentic and credible, and it is more conducive to providing digital inclusive financing services.
Digital RMB is a digital form of legal tender issued by the People’s Bank of China. It has the characteristics of “payment as settlement”, convenience and security, and is of great significance in helping the development of the digital economy. Wang Weiyi of Ping An Securities said that since 2019, the pilot of digital renminbi has been accelerated, and the central bank has extensively combined traditional financial institutions, Internet companies, and retail merchants to closely combine issuance and circulation with transaction scenarios, laying a solid foundation for the widespread use of digital renminbi. Its related application technology, payment, circulation and settlement fields will take the lead in ushering in development opportunities.
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