Since the beginning of this year, digital RMB has achieved "ice breaking" in many fields in financial application scenarios. Recently, the first digital RMB auto insurance policy in China was officially born, marking the successful implementation of digital RMB in the application scenario of auto insurance. The reporter noted that at present, the expansion of digital RMB in financial application scenarios has accelerated, and it has been implemented in many fields, such as housing provident fund, rental subsidy and tax payment business. It is generally believed in the industry that there are signs of acceleration in the implementation of the current digital RMB financial application scenarios. As the digital RMB goes deep into the financial and other application scenarios, it will release more potential and improve the inclusive nature of the digital RMB on a larger scale. The first digital RMB in China Vehicle insurance policy landing On June 10, Mr. Jiang paid the vehicle insurance premium for his car through the "sunshine car · life" app of sunshine insurance, which marked the landing of digital RMB in the application scenario of vehicle insurance. It is reported that this innovative breakthrough in the application scenario of digital RMB in the insurance field is the result of the cooperative exploration of UnionPay commerce Co., Ltd. (hereinafter referred to as "UnionPay commerce"), China Construction Bank Co., Ltd. and Sunshine Insurance Group Co., Ltd. According to the introduction made by UnionPay commercial responsible person to the reporter of Securities Daily, in all digital RMB pilot areas and cities in China, the applicant only needs to open CCB's class III and above personal real name wallet in the "digital RMB" app to experience the service of paying automobile insurance fees in digital RMB. "The official birth of China's first digital RMB automobile insurance policy indicates that another important financial application scenario of digital RMB has been put into practice. As digital RMB goes deep into financial and other application scenarios, it will further promote the service of digital RMB to the real economy and the expansion of Inclusive Finance." Pan Helin, CO director and researcher of the digital economy and financial innovation research center of the International Union Business School of Zhejiang University, told the Securities Daily. At present, the pilot of digital RMB has been gradually promoted, and the scope of the pilot has also been continuously expanded. According to the data of the central bank, as of December 31, 2021, the number of digital RMB pilot scenarios has exceeded 8.0851 million, 261million personal wallets have been opened, and the transaction amount is 87.565 billion yuan. Wangpengbo, a senior financial analyst at Broadcom consulting, told the Securities Daily that, "With the continuous expansion of pilot areas, the application of digital RMB in the financial field is making progress, and there are signs of acceleration. On the one hand, the digital RMB wallet has had a gratifying number of users in the early stage, laying a good foundation for the promotion of financial service functions; on the other hand, the expandability and directionality of digital RMB make it more valuable in financial scenarios such as insurance and credit financing." Application scenarios in the financial field Accelerated landing At present, with the continuous expansion of application scenarios, digital RMB is accelerating its "ice breaking" in the financial field, including multiple "housing related" application scenarios such as housing provident fund and rental subsidy. The reporter found that in recent years, the application of digital RMB in the field of housing related finance has been explored and is being deepened vertically. On May 26, Xiamen housing provident fund center issued the first digital RMB housing provident fund loan of 440000 yuan, which is the first breakthrough in the application scenario of digital RMB housing provident fund loan in the national housing provident fund industry. Previously, digital RMB has been applied in the field of housing provident fund, but it mostly focused on the payment and withdrawal of housing provident fund. For example, in May last year, Dalian housing provident fund management center in Liaoning Province completed the first housing provident fund unit deposit and personal loan repayment business through digital RMB payment; In July 2021, Sichuan provincial housing provident fund management center announced that the center used digital RMB to complete the first withdrawal of housing provident fund. In addition, digital RMB is also explored in terms of rental subsidies. For example, on June 8, ICBC xiong'an branch announced that ICBC xiong'an branch assisted xiong'an new area to issue digital RMB rental subsidies, with a maximum subsidy of 100000 yuan. At the same time, digital RMB tax payment business and other fields also have application scenarios. In November, 2021, the official website of xiong'an, China said that with the completion of the first digital RMB tax payment and warehousing business in xiong'an New Area in the "fiscal and tax Treasury silver t+0 mode", it marked the successful implementation of the digital RMB tax payment business in xiong'an new area. Wangpengbo said, "At present, the use of digital RMB combined with smart contract's extensible and directional characteristics in scenarios such as prepaid platform, B2B capital settlement, housing provident fund and rental subsidy is worth learning from all over the country. On the one hand, the previous financial service models in these fields have the possibility to be optimized at the payment process level; second, the directional and traceable characteristics of digital RMB can solve the possible violations in some financial scenarios Compliance issues. " Suxiaorui, a senior analyst of Analysys financial industry, told the Securities Daily that the combination of digital RMB and housing related businesses is actually a typical application of digital RMB in large-scale fields. It can effectively track the flow of funds while facilitating payment and transfer, so as to avoid the illegal use of relevant funds. "It is expected that in the future, digital RMB will have new breakthroughs in loan scenarios, cross-border payments and other fields. The technology will also be further combined with smart contracts. The conditional payment attribute of smart contracts will be used to realize the functions of targeted people, targeted scenarios and targeted uses, and play a more efficient role in the fields of fund supervision, subsidy issuance, consumer voucher issuance and so on.". (Xinhua News Agency)