In anticipation of the public, the digital yuan app has finally unraveled its mystery. On January 4, the digital renminbi (pilot version) app was launched on major Android and Apple app stores and became a hot topic.

According to official reports, the Digital RMB (Pilot Edition) App is an official service platform for piloting digital renminbi, a fiat digital currency in China, for individual users. It provides the opening and management of digital renminbi personal wallets and digital yuan exchange and circulation services. Although the digital yuan (pilot version) app released this time still uses a whitelist model, it mainly targets digital renminbi pilot cities and scenarios. According to industry analysis, the launch of this pilot version of the app has simplified the app download method, optimized the operation method for digital currency payments, gave merchants and consumers a better experience, and contributed to the further popularization of digital yuan applications. However, with the further advancement of digital renminbi R&D pilot projects, which may bring more business growth to enterprises related to the industrial chain, related enterprises may also take this opportunity to enter the fast track of development, which will also have a stimulating effect on promoting the development of related industrial chains.

The digital yuan app was launched, and WeChat Pay was then accessed

On December 27, the Central Bank of China held a video conference in 2022, stating that it is necessary to proceed with the digital renminbi R&D pilot in a steady and orderly manner, and continue the main tone of the digital renminbi research and development pilot in 21 years. Currently, the digital yuan is still in the routine testing stage in the research and development process. Users from the whitelist of pilot regions selected by designated digital renminbi operators can register the app. The pilot areas include Shenzhen, Suzhou, Xiong'an, Chengdu, Shanghai, Hainan, Changsha, Xi'an, Qingdao, Dalian, and the Winter Olympics scene (Beijing, Zhangjiakou). The digital renminbi pilot application has also covered various fields such as clothing, food, housing, travel, and shopping. Scenarios are becoming more and more rich.

Earlier, when introducing the overall preparations for the Beijing Winter Olympics and Paralympics, the State Information Office stated that the Winter Olympics are expected to open on February 4, the Beijing Winter Olympics Village is scheduled to open on January 27, and that the digital yuan will also be piloted simultaneously in scenarios related to the Beijing Winter Olympics. To this end, Tencent will further explore innovative digital renminbi payment experiences to help the smart Winter Olympics run smoothly. Following the recent digital yuan app upgrade, after the digital yuan app was upgraded, the WeChat Pay (WeChat Pay) digital yuan wallet was launched.

According to information, after a multi-stage controllable pilot in the early stages, Tencent began providing users with digital yuan services. After the user opens the WeChat Bank (WeChat Pay) digital yuan wallet with their real name, they can use the digital yuan app or WeChat to pay. After the launch, users added the “Pay with Digital RMB” option on the WeChat “Payment and Receipt” page. Users can easily pay for digital yuan by scanning the digital renminbi receipt code through WeChat, or by showing the merchant the WeChat digital renminbi payment code.

In fact, since Alipay launched the digital yuan payment channel last year, WeChat has also connected to the digital yuan channel. In April of last year, Tencent revealed phased progress for the first time. Since February 2018, Tencent has participated in in-depth research on digital renminbi projects, participated in various aspects such as design, R&D, and operation, and provided all-round support for the implementation of the digital renminbi project.

The Winter Olympics scenario pilots catalyze the continued activity and strengthening of the digital currency sector

The digital yuan is the definitive technological “business card” of the Winter Olympics. It is expected that the Winter Olympics will become an important milestone in the implementation of digital currency applications. According to the Bank of China's official WeChat account earlier, the construction of a digital renminbi acceptance environment within the Red Line of the Winter Olympics is progressing simultaneously with the construction of venues, and has achieved full coverage of seven categories of scenarios outside the Winter Olympics security red line, including transportation, food and lodging, shopping and consumption, tourism, health care, communication services, and ticketing and entertainment.

According to the CITIC Construction Investment Research Report, the 2022 Beijing Winter Olympics will carry out the largest digital yuan pilot ever, and the promotion of bank app wallets, hardware wallets, etc. has been carried out smoothly. With the pilot implementation of the Winter Olympics scenario, digital renminbi is expected to be promoted on a large scale in the future. Bank IT system upgrades, terminal payment equipment transformation, and digital encryption/security chips involving transaction links will bring business growth to relevant listed companies, and related industry chains will be greatly catalyzed. The Galaxy Securities Research Report also said that with the gradual diversification of digital renminbi pilot scenarios and the support of scenarios such as the digital economy and the Winter Olympics, the digital renminbi industry chain investment value opportunities are highlighted. Among them, the payment hardware market, the banking IT upgrade market, and the promotion and scenario service companies serving the digital yuan are worth focusing on.

In the secondary market, on January 6, the three major A-share indices fluctuated and declined in early trading, but the digital currency sector bucked the trend and actively strengthened. As of noon, Cuiwei Co., Ltd. (603123.CN) had once again risen and stopped to achieve 3 consecutive boards, and Yuyin Co., Ltd. (002177.CN) and Dongxin Peace (002017.CN) also strongly closed the market, *ST Julong (300202.CN) rose more than 9%, Beijingside (002987.CN) rose nearly 5%, Dreamnet Technology (002123.CN), Tianyang Technology (300872.CN), Hailian Huijin (002537.CN), Tianyu Information (3002537.CN), and Tianyu Information (3005.20) CN) and other stocks also actively followed suit to varying degrees.