Bank of China Showcases Digital Renminbi at CIFTIS, Creating a Digital Finance Extravaganza

Bank of China Showcases Digital Renminbi at CIFTIS, Creating a Digital Finance ExtravaganzaFrom September 12th to 16th, Bank of China made a grand appearance at the Financial Services Special Exhibition of the China International Fair for Trade in Services (CIFTIS), showcasing the digital renminbi. Through interactive experiences both online and offline, the bank comprehensively demonstrated the diverse applications of digital renminbi in government, enterprise, and individual sectors, contributing to the creation of a digital finance extravaganza

Bank of China Showcases Digital Renminbi at CIFTIS, Creating a Digital Finance Extravaganza

From September 12th to 16th, Bank of China made a grand appearance at the Financial Services Special Exhibition of the China International Fair for Trade in Services (CIFTIS), showcasing the digital renminbi. Through interactive experiences both online and offline, the bank comprehensively demonstrated the diverse applications of digital renminbi in government, enterprise, and individual sectors, contributing to the creation of a digital finance extravaganza.

Cutting-Edge Applications Take Center Stage, Immersive Experiences Reach New Heights

To facilitate smooth domestic and international circulation and enhance payment convenience for the elderly, children, and foreign visitors to China, Bank of China, in collaboration with Beijing Municipal Transportation Card, jointly launched two new hardware wallet products during CIFTIS. These wallets support the "dual application" of digital renminbi and transportation payments.

The "BEIJINGPASS" themed joint hardware wallet leverages the Beijing Transportation Card BEIJINGPASS and integrates digital renminbi hardware wallet payment functionality. It offers a customized payment solution for foreign visitors in Beijing, extending coverage to travel, taxis, and other areas through the transportation card payment feature. The "Jing-Jin-Ji" themed joint hardware wallet, aligning with the 10th anniversary of the coordinated development of Jing-Jin-Ji, supports subway and bus travel in 300 cities across China.

Beyond hardware wallets, Bank of China's exhibition booth presented the latest applications, including the digital renminbi hardware wallet card issuance machine (experience version) and AI intelligent voice interaction device (experience version). On-site visitors could experience the convenience of self-service application, inquiry, top-up, and recycling for digital renminbi hardware wallets, and engage in real-time interaction with AI intelligent devices through voice, gaining insights into digital renminbi-related information.

Application Scenarios Continuously Expand, Boosting Real Economy Development

At CIFTIS, Bank of China actively showcased the growing trend of diversified digital renminbi applications, gradually expanding from high-frequency retail scenarios like dining, shopping, and transportation to public payment areas such as B2B payments, cross-border trade, and supply chain finance. This allows attendees to directly experience the safer, more convenient, and efficient digital renminbi products and services driven by cutting-edge technology.

In the realm of supply chain finance, Bank of China has innovatively introduced the "Bank of China Lianrongbao" project, powered by digital renminbi, to empower supply chain finance. The application of digital currency and smart contracts within the supply chain can integrate funds and information flows, enabling the digitalization of business rules and targeted payment of on-chain funds. This breaks down time and space limitations, reduces payment costs, enhances capital flow efficiency, and empowers the deep integration of the real economy and digital economy.

In the area of cross-border trade, Bank of China is actively participating in the multilateral central bank digital currency bridge project. This initiative aims to create a high-efficiency, low-cost, highly scalable, and regulatory compliant cross-border payment solution centered around central bank digital currency.

Red Envelope Activities Abundant and Diverse, Demonstrating the Real-World Impact of Financial Inclusion

To create a vibrant and engaging experience at CIFTIS, Bank of China, collaborating with partners like China Unicom, Zhongyi Shanyuan, Tongrentang, and Lipose, has launched a series of activities centered around the theme "Experience Digital Finance, Illuminate a Brighter Life." They have upgraded the Digital Renminbi Avenue at the south side of Hall 5 of the Shougang Park, and are actively running limited-time consumption events like "Light Up Digital Brilliance" and "Mid-Autumn Festival Fun at CIFTIS, Bank of China Digital Currency Offers Great Gifts." These events are aimed at creating the most vibrant and engaging destination for shoppers at CIFTIS.

Bank of China's "Light Up Digital Brilliance" consumer event will distribute 20,000 no-threshold consumption red envelopes to the public, enabling use at the Bank of China booth and merchants along the Digital Renminbi Avenue. The "Mid-Autumn Festival Fun at CIFTIS, Bank of China Digital Currency Offers Great Gifts" consumer event will incentivize consumption with gift promotions. At Bank of China's Digital Renminbi Avenue merchants, single transactions exceeding 49 yuan, 99 yuan, and 199 yuan will be rewarded with corresponding exquisite gifts at the highest reward tier.

Beyond the highlights mentioned above, Bank of China also showcased the latest applications of digital renminbi in financial services, including the digital renminbi account management system, payment system, and trading system. These achievements reflect Bank of China's leading position in the digital renminbi field and offer new perspectives and directions for the development of digital finance.

This appearance at CIFTIS is a crucial step in Bank of China's proactive promotion of digital renminbi adoption, injecting new vitality into the growth of digital finance. Moving forward, Bank of China will continue to delve deeper into the digital renminbi landscape, leverage its strengths, and contribute to the advancement of the digital economy.