Babbitt column | Shenzhen digital currency mobile payment pilot zone prequel

On August 18, 2019, the "Opinions of the Central Committee of the Communist Party of China on Supporting the Construction of the Pioneering Zone for Socialism with Chinese Characteristics in Shenzhen" was published in full, and the fifth article "Accelerating the Construction of a Modern Industrial System" clearly stated that it supports the development of digital currency research in Shenzhen. Innovative applications with mobile payments. Promote interoperability with Hong Kong and Macao financial markets and mutual recognition of financial (fund) products. In the promotion of the internationalization of the renminbi, we will try first and explore innovative cross-border financial supervision.

After learning the news, Uncle Cat almost couldn't believe it was true. Until the full text of the Chinese government's online opinion was opened, it could not be seen ten times from beginning to end. The mood was still not calm for a long time.

Recall that almost two years ago, in the fall of 2017, when reporting to the head of the financial work of the Shenzhen Municipal Government, the core content of the written policy recommendations I submitted was this.

The original text of the policy proposal document two years ago was turned over again. Some key contents are as follows:

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The Belt and Road Initiative and the internationalization of the renminbi are our long-term strategic goals. Since the momentum of the stocks is large, we will find ways to increase them. The characteristics of oil trading such as oil are large-scale low-frequency, then we will do the opposite. Starting from small-value high-frequency trading, it is a mobile payment system represented by Alipay and WeChat payment… RMB mobile payment system Compared with the US dollar mobile payment system, it has a comprehensive lead in all dimensions such as transaction volume, technology leadership and ecological perfection.

The mobile payment system is an important part of the national financial infrastructure. The global mobile payment expressway must be dominated by multilateral mechanisms such as the AIIB led by the Chinese government.

Shenzhen is the vanguard of reform and opening up… We believe that in the process of “One Belt, One Road” global mobile payment expressway construction, Shenzhen is the most qualified to compete for the “Global Mobile Payment Expressway” headquarters.

……

The construction of the “One Belt, One Road” Mobile Finance International Center includes the “One Belt and One Road” Mobile Finance International Forum, the “Belt and Road” Mobile Finance International Standardization Organization, the Mobile Finance International Clearing Center, and the Mobile Finance International Double-Creation Base (Lomazhou Hetao Area). The mobile financial industry guidance fund (from angel funds to M&A funds) and the Shenzhen Stock Exchange "Belt and Road" board and other six aspects.

…… These documents add up to a long text and some sensitive content, which is not posted here. In the ins and outs, there is also a mention in the cat's column "Revisiting the 40th Anniversary, Seeing the Opportunities and Challenges of China's Blockchain Going to the World from Personal Experience" .

Two years have passed, and now the Party Central Committee and the State Council have begun to explicitly support Shenzhen to engage in digital currency mobile payment pilot zones, and to try and promote innovative cross-border financial supervision in the promotion of RMB internationalization. Uncle Cat is very pleased.

"No matter black cats and white cats, it is a good cat to catch mice." This sentence is the embodiment of the spirit of Shenzhen.

Modern finance is a very complicated system. The undergraduate major of cats is the artificial intelligence of computer science. The investment and research finance are only half-way, and the level of primary school students is only.

The policy recommendations submitted to the government two years ago are highly consistent with the recent spirit of the Party Central Committee and the State Council, and may be just a coincidence.

However, Uncle Mao also noticed that the title of the Party Central Committee and the State Council document is "Opinions of the CPC Central Committee and the State Council on Supporting Shenzhen to Construct a Pioneering Zone for Socialism with Chinese Characteristics."

The words "Chinese characteristics" and "socialism" are frankly said to be not mentioned by financial circles. Including the former, the discourse system when communicating with LP gold owners is still based on IRR, DPI, return on investment, The risk-return ratio is mainly based on Western imported words.

Now I am also beginning to reflect on the construction of a pioneering demonstration area of ​​socialism with Chinese characteristics in Shenzhen. What positive role can digital money mobile payments play? What can our fund and my personal contribution?

First of all, as an ordinary citizen who once took Beijing and Shanghai ID card and finally settled in Shenzhen, Uncle Mao is the “stake holder” of Shenzhen. I hope that Shenzhen will get better and better, and first write out its own policy learning experience, maybe it will lead to jade. Let the big cows who really care about the development of Shenzhen and the interests of Shenzhen also contribute their suggestions.

Secondly, Uncle Cat is the “share holder” of several APP projects. These projects are one of the main forces relying on the leading global demonstration area of ​​mobile payment in Shenzhen, and these projects are related to “Air Coin” and “MLM”. It is different. It is necessary for the government to explicitly encourage and give the details before dare to declare its own digital currency business, and then apply for a digital currency license or enter the digital currency park.

For example, Jianghu rumors, today's headline's vibrato tiktok, has long been recruiting teams overseas to conduct digital currency research and development, but like Facebook's libra, it is highly confidential before the official announcement, and few people inside know. The Chinese government has no binding on libra, which is led by Facebook. Of course, it can only rely on Chinese companies with international influences such as Huawei, Vibrato, Xiaomi, OPPO, VIVO, and Chuan to promote overseas, especially in Latin America, Middle East, Africa and Southeast Asia. China version of the digital currency mobile payment standard.

Shenzhen may be the first city in the world to build “smart socialism”. If I let the city government report again today, I would suggest replacing “innovative applications such as digital currency research and mobile payment” with “developing digital currency research”. Innovative applications such as smart payments." From "mobile payment" to "smart payment", why does it help Shenzhen to build "smart socialism"? What is "smart socialism"? Uncle Cat will slowly write in the future column. Today, I will sell a message, welcome everyone to leave a message, and welcome the email WeChat Weibo and me to give me comments.

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