On January 12, 2025, the Shanghai headquarters of the People's Bank of China held a grand annual work meeting, focusing on enhancing financial management and service levels, pointing the way for future financial development.

The meeting emphasized that the Shanghai headquarters of the People's Bank of China is continuously improving its financial management and service levels, committed to creating a more convenient and efficient financial service system. Among them, enhancing payment convenience has become one of the important topics. By continuously optimizing the payment environment, the Shanghai headquarters of the People's Bank of China will provide users with a smoother and safer payment experience.

The research and application of digital RMB is progressing steadily.

In the field of digital currency, the research and application of digital RMB became a highlight of the meeting. As the legal digital currency issued by the People's Bank of China, digital RMB has significant advantages in improving payment efficiency, reducing transaction costs, and enhancing financial inclusion. The Shanghai headquarters of the People's Bank of China stated that it will steadily promote the research and application of digital RMB, providing strong support for the vigorous development of the digital economy.

Blockchain technology assists in the 'one-stop' handling of cross-border electronic tax payments.

In addition, the meeting also revealed the innovative application of blockchain technology in financial services. The Shanghai headquarters of the People's Bank of China is utilizing blockchain technology to achieve 'one-stop' online processing of cross-border electronic tax payments, which will greatly simplify the cross-border tax payment process, improve payment efficiency, and create a more convenient business environment for domestic and foreign enterprises.

Innovative development of green finance and transformative finance.

In response to the urgent need for global climate change and green development, the Shanghai headquarters of the People's Bank of China will accelerate the innovative development of green finance and transformative finance. By innovating financial products and service models, it will support the rapid development of green low-carbon industries and promote the transition of the economy and society towards a green, low-carbon, and sustainable direction.

Support the construction of financial reform pilot zones for scientific and technological innovation.

The meeting also mentioned that the Shanghai headquarters of the People's Bank of China will actively support the construction of financial reform pilot zones for scientific and technological innovation. By optimizing the allocation of financial resources and innovating financial service models, it will provide more comprehensive and efficient financial support for technology innovation enterprises, assisting technological innovation and industrial upgrading.

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