Core Viewpoint - The "Guangxin Yu" platform for digital RMB prepayment consumption guarantee service was launched, marking a collaboration between Guangzhou Digital Technology Group and state-owned banks to explore new applications of digital RMB in the prepaid consumption sector [1] Group 1: Platform Overview - The "Guangxin Yu" platform is developed and operated by Guangzhou Digital Technology Group, utilizing the digital RMB APP "Yuan Manager" template provided by the People's Bank of China [1] - The platform employs digital RMB smart contract technology to create a closed-loop management mechanism for prepaid funds, performance behavior, and payment settlement [1] Group 2: Strategic Partnerships - Strategic agreements were signed with Agricultural Bank of China and China Construction Bank to jointly explore new models for the application of digital RMB in the prepaid consumption field [1]

Core Viewpoint - The recent policy document issued by the Central Committee and the State Council emphasizes the innovation and expansion of digital RMB applications, particularly in cross-border finance, signaling a significant boost for the digital currency and the financial reforms in the Guangdong-Hong Kong-Macao Greater Bay Area [2] Group 1: Digital RMB Development - Shenzhen has established a comprehensive digital RMB ecosystem over two years, with Agricultural Bank of China (ABC) Shenzhen Branch leading the efforts in promoting digital economy development [3] - As of May 2025, ABC Shenzhen Branch has integrated digital RMB into over 500,000 acceptance scenarios, enhancing its use in daily life [3] Group 2: Innovative Applications - ABC Shenzhen Branch has pioneered the "digital RMB + smart contract" model for housing fund withdrawals, improving efficiency and expanding application scenarios [4] - The "Smart Payment Assurance" platform was launched to regulate prepaid funds, addressing consumer concerns and ensuring fund security, with over 15 billion RMB regulated for nearly 930,000 consumers by February 2025 [5] Group 3: Consumer Engagement and Promotion - ABC Shenzhen Branch has organized educational activities and promotional events to enhance public awareness and usage of digital RMB, with significant participation in various campaigns [6] - The bank has distributed nearly 1.5 billion RMB in subsidies to citizens through red envelope initiatives, effectively boosting engagement and adoption of digital RMB in various sectors [6] Group 4: Cross-Border Transactions - The bank has upgraded its digital RMB acceptance capabilities for foreign visitors, facilitating seamless transactions and addressing currency exchange concerns [7] - A successful pilot of cross-border transactions using the central bank's digital currency bridge was completed, optimizing payment processes and reducing costs for international trade [10] Group 5: Future Outlook - ABC Shenzhen Branch aims to continue innovating in the digital RMB space, focusing on scene innovation and application promotion to enhance financial services and contribute to the high-quality development of digital finance in Shenzhen [11]

Group 1 - The core viewpoint of the article highlights the significant impact of AI-driven digital human live streaming on e-commerce sales during the 2025 "618" shopping festival, showcasing its potential as a commercial tool [1][2] - The digital human live stream attracted over 13 million viewers and generated a total transaction amount exceeding 55 million yuan, outperforming traditional live streams in terms of sales efficiency [2] - The integration of AI in the live streaming process involved 13,000 knowledge base calls and the generation of 97,000 words of professional commentary, indicating a high level of automation and interaction [2] Group 2 - Live streaming e-commerce is identified as a major contributor to consumer growth, with a reported retail sales figure of 4.3 trillion yuan from January to November 2024, accounting for 80% of the e-commerce sector's growth [3] - The user base for live streaming e-commerce reached 469 million in 2024, with a penetration rate nearing 45%, and is expected to surpass 600 million by 2025 [3] - The government is actively promoting live streaming e-commerce as a means to stimulate consumption, as evidenced by the successful hosting of the "2025 Beijing Live Streaming E-commerce Shopping Festival" [5] Group 3 - The overall consumer market in China is experiencing a strong recovery, with retail sales in May 2025 showing a year-on-year growth of 6.4%, marking the highest increase since the beginning of the year [7] - Factors contributing to this recovery include holiday consumption boosts and the emergence of new consumption trends such as the silver economy and pet economy, which are expected to drive further growth [9] - The Hong Kong stock market is seen as a potential investment opportunity in the consumer sector, particularly in e-commerce and new consumption trends, reflecting the current consumption recovery driven by policy support [9]

Group 1 - The allocation efficiency of digital talent is crucial for the integration of urban and rural development, emphasizing the need to break down institutional barriers to facilitate equal exchange and flow of resources [1] - The 2025 Central Document No. 1 encourages urban talent to serve rural areas and aims to establish an incentive mechanism for talent evaluation and appointment [1] - There is a structural imbalance in the distribution of digital talent between urban and rural areas, necessitating the creation of a dual-flow incentive mechanism to promote talent mobility [1] Group 2 - Establishing an online and offline collaborative platform for sharing digital economic talent information can enhance interaction between urban and rural areas [2] - The 2025 Government Work Report highlights the need to eliminate barriers in market access and resource allocation to facilitate the flow of digital talent [2] - A salary incentive mechanism is essential to stimulate the intrinsic motivation for digital talent to move between urban and rural areas [2] Group 3 - The 2024-2026 Action Plan for Accelerating Digital Talent Cultivation emphasizes the establishment of a benchmark salary system for digital talent, ensuring that compensation aligns with economic and social developments [3] - Targeted policies, such as direct subsidies for returning or relocating digital talent, are necessary to meet the actual needs of the workforce [3] - Exploring profit-sharing models can enhance the treatment of digital farmers and reduce income disparities between urban and rural digital talent [3] Group 4 - There is a need to develop rural digital industries by enhancing the digitalization of traditional agricultural sectors and promoting smart agricultural practices [4] - Supporting collaboration between urban digital technology and rural resources can address challenges in digital economic development [4] Group 5 - Establishing a universal digital skills certification system can facilitate the cross-regional transfer of technical capabilities and encourage more digital talent to participate in rural development [5] - Increasing policy awareness and promoting a positive environment for digital talent growth are essential for fostering talent development [5]

交个朋友在618大促中的优异表现，不仅验证了其直播电商业务的持续增长动能，更凸显了其前瞻性布局AI技术的战 略价值。而此次交个朋友在数字人直播上取得的商业化成功，更将成为驱动未来业绩增长的重要引擎。 AI多模态协同技术赋能直播电商新范式 公开数据显示，此次交个朋友与百度优选联合推出的罗永浩数字人直播创下数字人直播带货新纪录，累计观看人次突 破1300万，总成交额(GMV)高达5500万元，其中3C数码、食品饮料等核心品类表现甚至超越5月真人直播同期数据。 今年618大促期间，交个朋友控股(01450)交出了一份喜人的成绩单：截至6月20日，交个朋友的618全平台GMV达21亿 元，同比增长17.2%;订单量超600万单，场观人数突破7.5亿人次。其中，淘宝订单量同比增长65%，抖音增长42%，新 入驻的百度优选平台两场直播GMV突破1.05亿元，数字人直播更凭借超强"技术力"成为行业焦点。 智通财经APP了解到，本次数字人直播的核心技术架构包含五大模块：由"剧本"驱动的数字人多模协同技术、融合了 多模规划和深度思考的"剧本"生成技术、场景中动态决策的实时交互技术、文本自控的语音合成技术和高一致性超拟 真数字人 ...

Important Market News - Federal Reserve Chairman Jerome Powell indicated that a weak labor market and declining inflation could lead to early interest rate cuts, with most policymakers favoring a rate cut later this year if inflation is controlled [1] - U.S. stock markets opened higher, with all three major indices closing up over 1%. The Dow Jones reached a new closing high since early March, while the S&P 500 and Nasdaq achieved their highest closing levels since late February [1] - Major tech stocks saw significant gains, with Intel rising over 6% and other companies like Nvidia, Netflix, and Amazon increasing by more than 2% [1] - Chinese stocks also performed well, with the Nasdaq Golden Dragon China Index rising 3.31%, marking its largest single-day gain since May 13 [1] Industry Insights - The People's Bank of China and six other departments issued guidelines to enhance financial support for consumption, focusing on key areas such as food, housing, travel, and entertainment, while promoting digital payment methods [3] - The Ministry of Commerce announced the launch of a campaign to boost electric vehicle consumption in 2025, encouraging local reforms in automotive circulation and promoting smart connected vehicles [4] - The commercial space industry in China is experiencing significant growth, with a reported financing of 140 million yuan for the company Orbit Chuang, which focuses on satellite constellation development [5][6] - The market for commercial space is expected to exceed 2.8 trillion yuan this year, driven by increased demand for satellite communication and remote sensing applications [6]

中国人民银行等六部门联合印发《关于金融支持提振和扩大消费的指导意见》，其中指出，持续优化支 付服务。支持金融机构聚焦"食、住、行、游、购、娱、医"等重点消费场景，持续推进支付便利化建 设，有效提升现金、银行卡、移动支付、数字人民币等各类支付方式的兼容性，为消费者提供更高效、 便捷的支付体验。持续提升适老化支付服务水平，优化重点领域外卡受理环境，深化信用卡消费与各类 场景的合作，有效满足老年人、外籍来华人员等群体支付服务需求。鼓励试点地区在消费领域积极稳妥 推行数字人民币。 ...

Core Insights - The emergence of digital humans in live streaming, exemplified by Luo Yonghao's digital avatar, indicates a significant shift in the e-commerce landscape, showcasing both the potential and limitations of AI-driven sales [1][3][10] Group 1: Digital Human Performance - Luo Yonghao's digital human participated in a 7-hour live stream, attracting over 1.3 million viewers and generating a GMV of over 55 million, with one-third of products outperforming previous sales [1][8] - The digital human demonstrated advanced interaction capabilities, including natural facial expressions and fluid body movements, which enhanced the viewer experience [5][7] - The live stream featured 97,000 words of scripted content and 8,300 designed actions, showcasing the digital human's endurance and ability to engage in complex sales logic [8] Group 2: Market Dynamics and Future Prospects - The collaboration between Baidu and Luo Yonghao is primarily a marketing strategy, with both parties benefiting from the novelty of digital human live streaming [8][9] - The digital human live streaming market is projected to grow significantly, with the industry expected to reach a market size of 640.27 billion by 2025 [12] - Despite advancements, digital humans are not yet mainstream, with their primary applications in less emotionally driven product categories like daily necessities and beauty products [15] Group 3: Challenges and Limitations - Digital humans face challenges in replicating the emotional depth and spontaneity of human hosts, which are crucial for engaging audiences in high-stakes categories like luxury goods and personal care [15][16] - Regulatory constraints on digital human usage vary across platforms, impacting their integration into live streaming [14] - The potential for digital humans to replace human hosts raises questions about the future dynamics of influencer marketing and the value of personal branding [15][16]

Group 1 - The core viewpoint is that multiple national policies have been introduced to support the high-quality development of Shanghai's financial industry, which will have a profound impact on the higher-level development of Shanghai as an international financial center [1][8] - Shanghai will become more competitive in attracting international financial institutions and multinational companies due to a favorable business and financial service environment, leading to an increase in the establishment of branches or expansion of operations by international financial institutions [1][8] Group 2 - The People's Bank of China announced eight significant financial opening measures, including the establishment of a digital RMB international operation center to promote the internationalization of digital RMB and the development of financial market business [4][5] - Other measures include the establishment of a personal credit agency, comprehensive reform pilot for offshore trade finance services in the Lingang New Area, and the development of offshore bonds to enhance financing channels for enterprises involved in the Belt and Road Initiative [4][5] - The measures also involve innovative structural monetary policy tools in Shanghai, such as blockchain credit certificate refinancing and cross-border trade refinancing, as well as promoting RMB foreign exchange futures trading to improve the foreign exchange market product series [5]

近期，数字人民币APP1.2版本全新亮相。现在，打开APP就能发现数字人民币首页"焕然一新"：主要功 能布局以及交互方式调整。同时，多钱包用户的管理体验优化，数字人民币硬钱包的注销功能也进一步 完善。 "每一次改版亮相，对应的是数字人民币多元化和智能化服务体系不断完善。"王蓬博表示，数字人民币 APP保持高频迭代，新版本在界面交互、功能集成与安全保障上全面升级，既体现了央行数字货币体系 敏捷开发的能力，也为消费者带来操作效率提升、场景覆盖更广泛、隐私安全更有保障的利好。 新版本还针对数字人民币硬钱包注销流程进行了优化。在原流程中，硬钱包注销时需读取硬钱包进行数 据删除，若硬钱包丢失或损坏，则无法完成注销。此次更新后，用户在丢失或损坏硬钱包的情形下同样 可以注销硬钱包，只需在APP中点击硬钱包"移除"按钮（适用手机Pay和SIM硬钱包），或选择"硬钱包 不在身边，仍要注销"（适用卡式硬钱包）完成注销操作。 当前，数字人民币硬钱包在民生场景应用不断取得进展。在服务智慧养老场景方面，推出了与老年人日 常穿戴设备、老年证等相结合的硬钱包以及可视硬钱包；在校园场景，硬钱包在绑定家长的数字人民币 个人钱包并充值后，既可以 ...