IMF central bank digital currency

1.

At 8:00 on October 11, Shenzhen & lt; Enjoy Luohu digital RMB red envelope & quot; At the end of the appointment, the system successfully completed the pilot appointment registration, which is an important step in the development process of digital RMB. Adrian said: & lt; China's digital currency pilot leads the world, and the IMF pays close attention to the pilot situation of China's digital currency in some urban areas& rdquo; From the perspective of monetary statistics, the central bank's digital currency belongs to the category of M0, that is, cash, not M1 or m2. Therefore, he does not think it is necessary to worry about the impact on banks in the initial stage{ RRRRR}

overall, the impact of digital RMB on China's financial system will be all-round, and the development of China's digital system will usher in a new era

2. China's digital currency pilot is leading the world, which has a great impact on banks. With the introction and graal maturity of digital currency, the business of traditional banking instry will change dramatically.

3. You can call the police, because many of the digital currencies issued in China are illegal fund-raising activities. The Ponzi scheme in the guise of blockchain usually means that the people in front earn the money of the new entrants in the back, and the platform profits from it. However, these funds have a running cycle, and they will collapse when the time comes
2. Digital currency is an alternative currency in the form of electronic currency. It is an unregulated and digital currency, which is usually issued and managed by developers and accepted and used by members of a specific virtual community

it is different from the virtual currency in the virtual world, because it can be used for real goods and services transactions, not limited to online games. The early digital currency (digital gold currency) is a form of electronic currency named after the weight of gold. Today's digital currencies, such as bitcoin, lightcoin and ppcoin, are electronic currencies created, issued and circulated by means of check sum cryptography
on October 13, the International Monetary Fund predicted that global GDP would shrink by 4.4% in 2020, up 0.8 percentage points from the forecast in June. This year, China remains the only major economy the IMF expects to achieve positive growth< Tobias Adrian, head of the IMF's monetary and capital markets department, said in an exclusive interview with China first finance and economics reporter recently that China's economic recovery is leading the world, while the pilot of the central bank's digital currency (DCEP) is leading the world. He believes that at present DCEP is still focusing on M0 (cash in circulation), which has little impact on banks. In the early stage, DCEP will pay more attention to the application in China. In the future, as more countries begin to pilot central bank digital currency (CBDC), the cross-border use and convertibility of CBDC will be concerned

recently, the promotion of global central banks' digital currency is accelerating. Some mainstream central banks have changed their conservative attitude in their early years and accelerated the research on CBDC. China has taken the lead in carrying out relevant pilot projects. At 8:00 on October 11, Shenzhen "Lixiang Luohu digital RMB red envelope" booking ended, and the system successfully completed the pilot booking registration, which is an important step in the development process of digital RMB

Adrian said: "China's digital currency pilot is leading the world, and the IMF is closely following the pilot situation of China's digital currency in some urban areas." From the perspective of monetary statistics, the central bank's digital currency belongs to the category of M0, that is, cash, not M1 or m2. Therefore, he does not think it is necessary to worry about the impact on banks in the initial stage.

4.

In the official letter of Xiangcheng District of Suzhou, enterprises, institutions and management committees of Xiangcheng District are required to sign a digital currency agreement with the wage paying bank, install digital wallets for all staff (except retirees), and pay 50% of the monthly salary in the form of digital currency

this is the first practical application of the central bank's digital currency since the R & D news, which is a historical moment worth remembering

let's review the development of DCEP:

in 2014, the central bank set up a special research group on legal digital currency

in 2016, it set up a digital currency Research Institute on the basis of the original group

in June 2018, it set up Shenzhen Financial Technology Co., Ltd.

in August 2019, the central government issued a document to carry out digital currency research and mobile payment pilot in Shenzhen

on October 29, 2019, At the "2019 Bund financial summit", Huang Qifan, vice president of China Center for international economic exchange, said: "the digital currency DCEP launched by the Central Bank of China is a new crypto electronic currency system based on blockchain technology." This is the debut of DCEP

On April 3, 2020, in the "national teleconference on money, gold, silver and security work", the central bank said that it would "unswervingly promote the research and development of legal digital currency"

On April 10, Zhou Xuedong, director of the general office of the people's Bank of China, pointed out at the "first quarter financial statistics press conference" that "with regard to digital currency, the people's Bank of China is advancing in an orderly manner according to the original plan."

on April 14, the central bank's digital currency DCEP took the lead in the internal test of ABC

on April 16, Xiangcheng District of Suzhou realized the implementation of the first application scenario of central bank's digital currency DCEP, using "digital wallet" as the payment channel and issuing it in the form of transportation subsidies

judging from various actions, the central bank's plan for digital currency is well prepared and in an orderly and continuous progress

why DCEP

from the national level, it is well known that the macroeconomic regulation and control means of sovereign countries are mainly through monetary policy and fiscal policy, just like the current global lack of liquidity e to the epidemic, China's economy is stimulated by interest rate rection and government spending, but the funds are transmitted layer by layer, and there are few funds really used for the target range

if we use the central bank's digital currency system, we can analyze and track a large number of transactions, and use the most direct and efficient means to put funds where they need, so as to release liquidity and benefit the people

from the international level,

the use of blockchain technology can realize the review of national credit and increase the credit of the country's monetary system. With the increase of GNP, credit must also increase, and the process of RMB internationalization will be more rapid

this is very simple to understand. Blockchain technology makes it impossible for asset certificates to be forged and makes credit verifiable, which is naturally concive to RMB internationalization

Last year, the World Bank Group and the International Monetary Fund (IMF) issued a report that up to now, nearly 70% of the central banks are studying the digital currency of the central bank, which also shows that the digital wave is the general trend. At present, the central bank's digital currency DCEP is likely to be used on a large scale ahead of other countries in the world, and the era of digital currency is coming

the era of digital economy is getting closer and closer

today's era is a digital era. With the comprehensive rise of technological innovation and digital economy, science and technology has changed from the initial role of a tool to the backbone of financial reform. The continuous collision and integration of digital five complete genes (whole airspace, whole process, whole scene, full analysis, and full value) and financial instry not only changes the settlement and settlement methods and sovereign currency issuance mechanism among indivials, enterprises, and countries, but also greatly improves the operation efficiency of instrial chain, and brings the development of the whole economic society and human progress

if blockchain technology will "genetically transform" all walks of life, then digital currency will "genetically transform" the financial instry. Looking forward to the future, the in-depth integration and transformation of traditional instries by blockchain, artificial intelligence, cloud computing, Internet of things and other technologies will lead us into a new era of digital economy

in short, the era of digital economy is getting closer and closer to us

the implementation of the central bank's digital currency is bound to bring disruptive changes to the existing financial market and breed huge wealth opportunities. The future has come, the wind has come, keep up with the pace of the instry, accurately grasp the future trend, and quickly seize the blue ocean of wealth business

5. China's digital currency pilot is in the forefront in the world.

6. At present, the IMF basket includes US dollar, Japanese yen, euro and British pound. The IMF will review the composition of its basket this year
the International Monetary Fund (IMF) may include RMB in its official reserve basket later this year, which marks a political and economic victory for China in the confrontation with the United States. However, the slowdown of China's economic growth may limit the impact of this victory
as IMF president Lagarde said, it's only a matter of time before RMB joins the IMF's special drawing rights (SDR) basket. Over time, this change should enhance the role of the RMB in international trade and investment, and make it more likely for global central banks to use the RMB as a reserve currency
this should further rece the transaction costs, exchange rate risk and borrowing costs of China and its enterprises. China has become the largest trading country in the world.

7.

Reserve position in the IMF: refers to the balance of a member's drawing rights in the IMF's reserves, plus the balance of convertible currency loans provided to the IMF

reserve position is a country's automatic drawing right in the International Monetary Fund, and its amount mainly depends on the member country's share in the International Monetary Fund. The maximum limit that a member country can use is 125% of its share, and the minimum is 0

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extended data:

reserves

1. Foreign exchange reserves

when a country carries out foreign trade, there are imports and exports, income and expenditure. When there is a trade surplus, we can accumulate international reserves. When there is a trade deficit, we can balance the trade deficit without recing imports. Sufficient reserves can also stabilize the exchange rate

the excessive devaluation of the local currency, the intervention of the central bank in the market, the selling of foreign exchange, and the rise of the local currency exchange rate. On the contrary, it will buy foreign exchange to ease the pressure of exchange rate appreciation. A country is rich in foreign exchange reserves and its currency value is strong. In international exchanges, its waist will be much harder

2 and China's reserve

2001 increased the Chinese mainland's international reserves by 47 billion 325 million US dollars and foreign exchange reserves to US $212 billion 165 million, ranking only second of the world's largest after Japan. Whether China's international reserves are a little "excessive" or not is worth further discussion

However, it is universally acknowledged that only by virtue of our strong international reserves can we solemnly promise the world that RMB will not depreciate after the Asian financial crisis

8. Reform catalyst:
the entry of RMB into the SDR basket will have an important impact on China's financial reform and the trend of RMB exchange rate“ In the short run, China is likely to take the inclusion of SDR as a catalytic factor for financial reform, especially in the aspects of capital account opening and exchange rate system reform, which will also promote domestic interest rate liberalization and capital market reform. " Zhu Haibin, JPMorgan's chief economist in China, told China business news
an important step in RMB Internationalization:
SDR itself is not an important reserve asset, but the four SDR currencies account for 92.9% of the global foreign exchange reserves (US dollar: 62.9%); Euro: 22.2%; Yen: 4.0%; GBP: 3.8%). The inclusion of RMB in SDR will further encourage central banks and sovereign wealth funds to hold RMB denominated assets, thus enhancing the status of RMB as a reserve currency
RMB assets are more popular:
according to the estimation of Standard Chartered Bank, if RMB is added to SDR, all countries may increase their holdings of onshore Chinese government bonds by a total of 6.2 trillion yuan (about 1 trillion US dollars) before 2020; 10% of the world's 11.6 trillion US dollars of foreign exchange reserves will be converted into RMB assets
commodity pricing power:
"as a large consumer country, RMB's participation in SDR can make RMB competitive in pricing commodities. In addition, the more widely used and internationalized the RMB is, the easier and cheaper it will be for Chinese enterprises to invest overseas through trade and investment. "

9. Every patient is a member of his family. After receiving radiotherapy, many patients are afraid that there will be resial radiation on their bodies, which will have adverse effects on their families. Therefore, they can not bear to give up and deliberately alienate their families. In fact, this is totally unnecessary. In addition to radionuclide therapy, patients receiving conventional radiotherapy will not have radioactivity on their bodies, It will not have a bad impact on the people around. Patients can eat and sleep with their families, and their secretions and excreta are also non radioactive. In some patients, the ulceration and exudation of skin and mucous membrane in the late stage of radiotherapy will not be infectious, and their families can get along with each other as usual.

10. During the period of breast-feeding, once cancer is found, breast-feeding should be stopped immediately. The reasons are as follows: first, the growth of the tumor itself will take away a lot of nutrients from the patient's body; The treatment of tumor, such as radiotherapy, chemotherapy and so on, has different degrees of damage to the body, often affecting appetite, so that the constitution is reced ring treatment. At this time, breast-feeding will increase the consumption of patients and rece the constitution of patients. In this way, on the one hand, the patient can't bear to eat, and on the other hand, the tumor is easier to develop e to the decrease of physical fitness. Second, lactation promotes the secretion of prolactin by the pituitary gland. Lactin is a hormone that can stimulate cancer growth. The increase of lactin also promotes the growth of cancer cells, especially breast cancer patients. Clinical data confirmed that breast-feeding can promote the growth and spread of tumor. "Cutting stomach to prevent cancer" between big and small Sanyang and 10 siblings of liver cancer makes contraceptives ineffective. Liver disease and daily life don't treat lymphoma as cold period. Eight kinds of drugs should not be included in the topic of liver disease & gt& gt;& gt; Learn more about cancer & gt& gt;& gt; Thus entering the world of Medicine