Gelonghui November 7th 丨Marco Digital Technology (01942.HK) announced that the board of directors noticed that a piece of news (“the news”) published by China Insurance Technology Innovation (Zhuhai) Co., Ltd. (“China Insurance Technology Innovation”), an indirect non-wholly owned subsidiary of the company (“China Insurance Technology Innovation”), was recently discussed on the online platform. The news was released on August 17, 2023, indicating that the Industrial and Commercial Bank of China Co., Ltd. (“ICBC”) has implemented the use of digital yuan to distribute commissions in batches to the insurance industry in the Changsha region. To avoid any misunderstandings, the Board wishes to make the following clarifications.
After many days of development, the China Insurance Science and Technology Innovation Digital RMB Integrated Technology Service Platform and the head office of the Industrial and Commercial Bank have successfully achieved a systematic connection. This realizes the digital yuan agency function, which can not only improve payment and settlement efficiency for the insurance industry, but also greatly reduce transaction costs. Furthermore, system integration has not only saved costs for insurance companies, but also accumulated valuable experience for digital currency operators to carry out digital renminbi agency business.
However, due to confidentiality clauses, China Insurance Science and Technology Innovation will only disclose details of its cooperation after obtaining permission from the Industrial and Commercial Bank. The China Insurance Science and Technology Innovation Plan will further promote technical service work for the pilot application of the digital yuan. China Insurance Science and Technology Innovation plans to explore the application of digital yuan in the insurance industry and other industries to promote the incremental expansion of applications. Furthermore, China Insurance Science and Technology Innovation will focus on scenario innovation that can enhance the overall digital experience and improve the ecology.