Zhong Guo Jin Rong Xin Xi Wang·2025-10-25 03:38Core Insights - The successful implementation of the first digital RMB customs tax withholding business by China Merchants Bank Qingdao Branch and Qingdao Customs represents a significant innovation in the digital currency landscape, enhancing the efficiency of customs tax payments and providing a replicable model for digital transformation in government services [1][2][3] Group 1: Digital RMB Integration - China Merchants Bank, as a pilot bank for digital RMB, focuses on integrating digital currency with government service digitalization, particularly in enhancing customs tax payment efficiency for foreign trade enterprises [2] - The collaboration between China Merchants Bank Qingdao Branch and Qingdao Customs has led to the creation of a fully online closed-loop process for customs tax payment using digital RMB, streamlining operations and reducing the need for offline documentation [2] Group 2: Value Creation for Foreign Trade - The launch of the digital RMB customs tax withholding service is a key breakthrough in the bank's digital financial innovation strategy, showcasing its leadership in the industry and enhancing its market reputation [3] - This initiative expands the application boundaries of digital RMB, providing a model for future applications in various customs-related scenarios, thereby supporting high-quality development in foreign trade [3]