Core Insights - Shenzhen is expanding its digital RMB layout, with a focus on enhancing operational support for digital currency management [1][2] - The People's Bank of China (PBOC) has established a dual-center system for digital RMB operations, with centers in Beijing and Shanghai, and is now strengthening its presence in Shenzhen [3][4] - Recent policy initiatives in Shenzhen emphasize the importance of digital RMB and financial technology innovation, aiming to create a robust financial technology ecosystem [6][7] Company Structure - Shenzhen Financial Technology Co., Ltd. was established in 2018 with a capital of 2 million yuan, fully funded by the PBOC's Digital Currency Research Institute [2] - The PBOC's Digital Currency Research Institute has two subsidiaries in Shenzhen: Shenzhen Financial Technology Co., Ltd. and Shenzhen Financial Technology Research Institute [2] - The leadership of these institutions is composed of individuals from the PBOC's Digital Currency Research Institute, indicating a strong alignment with central bank objectives [2] Digital RMB Operations - The digital RMB has established a "Beijing-Shanghai dual center" layout, with the Beijing center focusing on system construction and maintenance, while the Shanghai center handles international operations and cross-border infrastructure [3] - The Shanghai International Operations Center has launched three major business platforms for cross-border digital payments, blockchain services, and digital asset management [3] - As of September 2025, Shenzhen has opened nearly 30 million digital RMB wallets, with over 2 million merchants and a transaction volume of approximately 180 billion yuan [7][8] Policy and Innovation - Shenzhen's government is actively promoting digital RMB pilot projects and financial technology innovation, as highlighted in recent public statements and policy documents [6][7] - The "Three-Year Action Plan" aims to support digital RMB application innovation and enhance international collaboration, leveraging Hong Kong's status as a cross-border pilot region [7] - Various banks in Shenzhen are implementing innovative use cases for digital RMB, including insurance payments and supply chain financing [8][9] Regional Developments - Different districts in Shenzhen, such as Futian and Luohu, are developing specific digital RMB applications in sectors like education and cross-border trade [9][10] - The establishment of a digital RMB industrial park in Luohu and successful cross-border transactions highlight the city's commitment to integrating digital currency into various economic activities [9][10]