Summary of blockchain-related proposals at the 2021 Two Sessions: Digital RMB pilot becomes popular

Abstract: In the two sessions, blockchain-related topics attracted heated discussions among many representatives and committee members. With the closing of the fourth session of the 13th National People's Congress on March 11, the 2021 National Two Sessions also officially came to an end, and the direction of this year's economic work will also become clear. At the two sessions, the government work report mentioned that it is necessary to accelerate digital development, create new advantages in the digital economy, and coordinate the promotion of digital industrialization and industrial digital transformation. As the cornerstone of the digital economy, blockchain technology...

During the two sessions, blockchain-related topics attracted heated discussions among many representatives and committee members.

With the closing of the fourth session of the 13th National People's Congress on March 11, the 2021 National People's Congress and the Chinese People's Political Consultative Conference have officially come to an end, and the direction of this year's economic work will become clear.

At the two sessions, the government work report mentioned that we should accelerate digital development, create new advantages in the digital economy, and coordinate the promotion of digital industrialization and industrial digital transformation. As the cornerstone of the digital economy, blockchain technology plays an important role.

Looking across the country, according to statistics from the Securities Daily, at least 20 provincial-level administrative regions have included "blockchain" in the 2021 government work report. In addition, in the draft outline of the "14th Five-Year Plan" that is being submitted for review, "blockchain" has also been listed as a key industry of the digital economy in the separate chapter "Accelerating Digital Development and Building a Digital China".

During the two sessions, blockchain-related topics attracted heated discussions among many representatives and committee members. For example, in social governance, blockchain technology plays a role as a trust mechanism in government data, effectively promoting data sharing; in the real economy, blockchain helps supply chain finance release new vitality and expand financing channels for small and medium-sized enterprises. PANews compiled some blockchain-related proposals that were hotly discussed during this year's two sessions from the disclosed public information. The blockchain proposals of representatives and committee members of the two sessions are as follows:

01 Digital RMB

Gong Fuwen, Vice President of the Shaanxi Provincial Higher People's Court: The digital RMB pilot should focus on "grasping the top level, emphasizing inclusiveness, and preventing risks"

On March 8, Gong Fuwen, member of the National Committee of the Chinese People's Political Consultative Conference and vice president of the Shaanxi Provincial Higher People's Court, suggested that the digital RMB pilot work should focus on "grasping the top level, emphasizing universal benefits, and preventing risks." "Grasping the top level" means determining the legal currency status of the digital RMB from a legal perspective. "Emphasis on universal benefits" means that the pilot should not "focus on cities and neglect rural areas" and should pay attention to bridging the "digital divide" among the elderly. "Preventing risks" means that security research and investment should be increased during the pilot to ensure the security of the digital RMB throughout its life cycle.

Jin Penghui, Deputy Director of the Shanghai Headquarters of the People's Bank of China: Promoting the pilot of digital RMB in Shanghai

On March 5, Jin Penghui, member of the National Committee of the Chinese People's Political Consultative Conference, deputy director of the Shanghai headquarters of the People's Bank of China and president of the Shanghai branch, said that the construction of Shanghai's financial technology center will continue to be promoted, and relevant work on the settlement of the head office's financial technology-related infrastructure in Shanghai will be done well. On the basis of the pilot of financial technology application innovation, the application results will be replicated and promoted, and the digital RMB pilot will be promoted in an orderly manner.

Li Minbin, Co-CEO of Bank of East Asia: Promoting the cross-border payment application of digital RMB

On March 5, Li Minbin, member of the National Committee of the Chinese People's Political Consultative Conference and co-CEO of Bank of East Asia, said that after announcing the launch of the "Cross-border Wealth Management Connect" business pilot in the Guangdong-Hong Kong-Macao Greater Bay Area in 2020, the mainland and Hong Kong and Macao regulatory authorities signed a memorandum of understanding in February this year, which is another step towards the development of the relevant business, and more financial innovation measures are just around the corner. It is recommended to promote cross-border financial innovation services in the Guangdong-Hong Kong-Macao Greater Bay Area from aspects such as the interoperability of customer information and data, a diversified dispute resolution mechanism, and the promotion of the application of digital RMB.

Zhuoer Holdings Chairman Yan Zhi: It is recommended that Wuhan be included in the digital RMB pilot city

On March 5, Yan Zhi, deputy to the National People's Congress and chairman of Zall Holdings Co., Ltd., suggested that Wuhan be included in the pilot cities for digital RMB. "The research and development and application of digital currency will help to efficiently meet the public's demand for legal tender under the conditions of the digital economy, improve the convenience, security and anti-counterfeiting level of retail payments, and promote the accelerated development of the national and regional digital economy. It is of great practical significance to carry out the pilot work of digital RMB first."

Hong Kong Democratic Alliance for the Betterment and Progress of Hong Kong Chairman Lee Wai-king: It is recommended that Hong Kong become a pilot for the digital RMB

On March 5, Li Huiqiang, member of the National Committee of the Chinese People's Political Consultative Conference in Hong Kong and chairperson of the Democratic Alliance for the Betterment and Progress of Hong Kong, revealed to a reporter from China News Service that the Democratic Alliance for the Betterment and Progress of Hong Kong has put forward a total of 22 proposals and suggestions this year. One of the key proposals is to make Hong Kong a pilot for the digital RMB.

02Digital Currency Related

NPC deputy Chen Guoying: Bitcoin is a case where the public welfare of basic theories of China and the United States is severely challenged

On March 5, National People's Congress representative Chen Guoying pointed out at the plenary meeting of the Fujian delegation attending the second session of the 13th National People's Congress that under the current Sino-US relations, the public welfare of basic theories will face severe challenges. In order to achieve the goal of blocking China, many basic theoretical sharing will probably not be achieved in the future. This is the first challenge we must face in our future science and technology strategy. Bitcoin is a very typical case. After Bitcoin was created, the world knew about the blockchain technology. When everyone knew about the blockchain technology, the public chain technology platform represented by Bitcoin was already firmly controlled by the Americans.

03Blockchain application landing

Wen Aihua, President of China Construction Bank Hunan Branch: Accelerate data opening to avoid the formation of "data islands"

On March 9, Wen Aihua, deputy to the National People's Congress and president of the Hunan Branch of China Construction Bank, said in an interview with reporters that it is recommended to strengthen the construction of financial technology at the national level. Financial technology is related to the country's financial competitiveness. It is necessary to strengthen the research of new technologies such as big data, cloud computing, artificial intelligence, blockchain and mobile Internet at the national level, and export technology to commercial banks; build a national data unified sharing and open platform, open and share data resources in an orderly manner under unified rules, accelerate the opening of data in the government and public sectors, promote the transaction and sharing of data resources of Internet companies, and avoid the formation of "data islands".

Zhou Qiang, President of the Supreme People's Court: Open judicial blockchain to support copyright owners to upload works

On March 8, the second plenary session of the fourth session of the 13th National People's Congress was held in the Great Hall of the People in Beijing. Zhou Qiang, President of the Supreme People's Court, delivered a work report of the Supreme People's Court. It mentioned: Open judicial blockchain, support copyright owners to upload works, prevent and punish online plagiarism. Severely punish false litigation. Adhere to the balance between punishing dishonesty and rewarding integrity, establish a dishonesty repair mechanism, distinguish between dishonesty and business risks, explore the personal bankruptcy system, and provide a chance for rebirth for honest entrepreneurs who have failed.

Zhu Lifeng, Secretary of the Party Committee of China Electric Industrial Internet: Exploring a new model of "data + blockchain + insurance + digital RMB" based on intelligent connected vehicles

On March 8, Zhu Lifeng, deputy to the 13th National People's Congress, secretary of the Party Committee and chairman of China Electric Power Industrial Internet Co., Ltd., said in an interview at the plenary meeting: "We must use safety as a traction to comprehensively promote the coordinated development of intelligent connected vehicles, intelligent connected roads and modern digital cities." Zhu Lifeng suggested that key technical platform applications such as big data security situation awareness of intelligent connected vehicles based on the PKS system should be built, and a new model based on "data + blockchain + insurance + digital RMB" for intelligent connected vehicles should be explored to promote the safe development of the industry.

Bai Hexiang, President of the Guangzhou Branch of the People's Bank of China: Putting carbon assets on the chain based on blockchain

On March 5, in terms of promoting carbon financial innovation based on the carbon market, Bai Hexiang, deputy to the National People's Congress and president of the Guangzhou Branch of the People's Bank of China, suggested that on the basis of traditional carbon asset trading businesses such as carbon emission quotas or emission reductions, combined with the opportunity of the registration and establishment of the Guangzhou Futures Exchange, carbon financial derivatives such as carbon futures, carbon swaps, and carbon options should be launched in a timely manner, and financing businesses such as carbon pledge, carbon repurchase, and carbon trusteeship should be vigorously promoted. Based on blockchain, carbon assets should be put on the chain to make carbon trading information transparent, safe, and convenient, realize the digitization of carbon assets, and promote the development of digital carbon assets.

Yang Jianyu, Secretary of the Party Committee of China Mobile (Henan): We must make every effort to promote the integration and innovation of 5G and blockchain

On March 5, Yang Jianyu, deputy to the National People's Congress, secretary of the Party Committee, chairman and general manager of China Mobile Communications Group Henan Co., Ltd., said in an exclusive interview with Xinhuanet: We must accelerate the construction of the 5G capability system, build a 5G capability system of "private network + talents + ecology + platform + terminal", and strive to promote the integration and innovation of 5G and information technologies such as artificial intelligence, Internet of Things, cloud computing, big data, edge computing, and blockchain, and lay a solid foundation for the deep adaptation and wide application of 5G technology and vertical industries.

Yu Xinwei, Vice Chairman of the Guangzhou CPPCC: We should use blockchain to strengthen the supervision of online games

On March 3, Yu Xinwei, member of the National Committee of the Chinese People's Political Consultative Conference, vice chairman of the Guangzhou CPPCC, and chairman of the Guangzhou Municipal Committee of the Revolutionary Committee of the Chinese Kuomintang, said that the newly revised "Minor Protection Law of the People's Republic of China" will be officially implemented on June 1, 2021, which specifically stipulates that online game service providers should require minors to use their service settings for real-name authentication, time management, authority management, consumption management and other functions. However, my country currently lacks a comprehensive mechanism for the prevention and treatment of youth Internet addiction, and lacks an effective technical platform to scientifically monitor, guide and intervene in the behavior of youth Internet use. Blockchain technology provides a feasible solution to the above problems. She plans to submit a proposal to "use blockchain to strengthen online game supervision and help young people form good online behavior habits" at the National People's Congress.

Liu Feixiang, Party Secretary of China Railway Construction Heavy Industry Group: Strengthen the promotion of blockchain construction in the construction machinery industry

On March 2, Liu Feixiang, deputy to the National People's Congress, secretary of the Party Committee and chairman of China Railway Construction Heavy Industry Group, said that the advantages of blockchain in optimizing business processes, reducing operating costs, improving collaborative efficiency, and building a trusted system are conducive to solving various problems faced in the construction machinery industry chain. He suggested promoting the construction of blockchain in the construction machinery industry.

The Central Committee of the Taiwan Democratic Self-Government League: It is recommended to make rational use of blockchain technology to promote the construction of medical informatization

On the eve of the National People's Congress and the Chinese People's Political Consultative Conference, the Taiwan Democratic Self-Government League Central Committee submitted a proposal on "rational use of blockchain technology to strengthen the standardized use and management of medical electronic data."

The Central Committee of the Taiwan Democratic Self-Government League stated that the country has introduced a number of policies to promote medical informatization, including the classification of electronic medical records, deepening the reform of medical insurance payment, promoting the construction of medical alliances, and encouraging prescription outflow. However, the survey found that in the actual work, there are still problems such as the lack of standardization and reliability of the collection, storage, and use of medical electronic data, insufficient circulation of data use, and hidden dangers in the security of data storage and user privacy. The Central Committee of the Taiwan Democratic Self-Government League suggested that the construction of medical informatization should be promoted through the rational use of blockchain technology.

Li Shijie, Vice Chairman of the Central Committee of the China Democratic National Construction Association: Using blockchain technology to empower the digital economy

Li Shijie, member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference, deputy secretary-general, and vice chairman and secretary-general of the Central Committee of the China Democratic National Construction Association, said in an interview with the media on the eve of the two sessions of the National People's Congress that during the "14th Five-Year Plan" period, supporting the development of blockchain technology will be conducive to empowering the real economy, optimizing social governance, and enhancing my country's international competitiveness.

Regarding "how to support the development of blockchain technology and empower the digital economy", Li Shijie suggested that, first, a relatively complete blockchain development plan should be formulated at the central level to enhance the rigidity of the plan and grasp the development direction and strategy; second, the blockchain industry's competent authority should be clarified as soon as possible or a joint meeting system should be established to formulate national standards for the blockchain industry in the "government + research institutes + enterprises + social organizations" model; third, the "regulatory sandbox" system should be implemented to promote the rapid and stable development of the blockchain field; finally, around the blockchain ecosystem, explore core application scenarios, gather a group of high-end innovative talents and high-level innovation platforms, and build hard-core R&D capabilities.