Core Viewpoint - The Hunan Provincial Government has issued an implementation opinion to accelerate the reform of the chain debt repayment mechanism and explore the application of digital renminbi in this context, aiming to enhance economic development through innovative financial solutions [1][2]. Group 1: Chain Debt Repayment Mechanism - Chain debt refers to receivables and payables between government agencies, public institutions, state-owned enterprises, and private enterprises that exceed conventional aging limits and lack effective repayment mechanisms [2]. - The Hunan Provincial Financial Office has initiated efforts to construct a chain debt repayment mechanism, focusing on strengthening repayment measures and seeking policy support for special bonds [2]. - The implementation opinion emphasizes the need to accelerate the reform of the chain debt repayment mechanism and explore the application of digital renminbi to establish a direct funding model [1][2]. Group 2: Digital Renminbi Application - Hunan Province is actively expanding the application scenarios of digital renminbi, enhancing merchant coverage, upgrading acceptance devices, and improving user experience [3]. - As of the end of June, the number of merchants participating in the digital renminbi pilot in Changsha reached 560,000, with cumulative transactions exceeding 200 million and a total amount of over 46.2 billion yuan [4]. - The successful implementation of digital renminbi for salary payments in provincial budget units in Fuzhou marks a significant advancement in the application of digital currency, enhancing payment efficiency and ensuring the safety of fund transfers [5][6].