Zhengzhou: Promote the pilot city of digital RMB to be approved to expand and strengthen the futures industry

It is reported that the People’s Government of Zhengzhou issued a notice on the issuance of the 2023 National Economic and Social Development Plan of Zhengzhou. It was mentioned that we should promote the construction of the national regional financial center, promote the approval of the pilot city of digital RMB, promote the pilot operation of policy-oriented science and technology innovation finance with the Bank of Zhengzhou as the main body, guide financial institutions to innovate financial products, guide Yutong Group to merge and acquire auto finance companies, fill in the blank of local new financial licenses, expand and strengthen the futures industry, and form a group of “futures+spot” leading enterprises, We will strive to increase the added value of the financial industry by more than 160 billion yuan, increase the number of listed companies by 10, and increase the capital market financing by more than 120 billion yuan.

Interpretation of this information:

The message mentions the issuance of the 2023 National Economic and Social Development Plan of Zhengzhou by the People’s Government of Zhengzhou. It outlines several key initiatives to promote the city’s financial industry, including the construction of a national regional financial center, promoting the pilot city of digital RMB, and guiding financial institutions to innovate financial products. Additionally, the plan aims to strengthen the futures industry, merge and acquire auto finance companies, and fill in the blank of local new financial licenses. The government hopes to increase the added value of the financial industry by more than 160 billion yuan, increase the number of listed companies by 10, and increase the capital market financing by more than 120 billion yuan.

One of the most significant initiatives mentioned in the message is the promotion of the construction of a national regional financial center in Zhengzhou. This would likely involve attracting financial institutions and talent to the city, as well as creating policies and infrastructure to support the development of a robust financial industry. Additionally, the message mentions the promotion of the pilot city of digital RMB. This initiative would involve experimenting with the use of digital currency in the city, potentially paving the way for broader adoption of digital currency within China.

Another key initiative outlined in the message is the promotion of policy-oriented science and technology innovation finance, with the Bank of Zhengzhou as the main body. This initiative would likely involve creating policies and financial products to support science and technology innovation within the city, as well as leveraging the Bank of Zhengzhou’s expertise in financial services to drive the development of this industry.

Overall, the message suggests that the government of Zhengzhou is committed to developing its financial industry, as evidenced by the various initiatives outlined in the 2023 National Economic and Social Development Plan. The city is actively seeking to attract financial institutions, talent, and investment, and is focused on creating policies and infrastructure to support the development of a robust financial industry.