China continues to develop its central bank digital currency (CBDC) project by opening the e-CNY Research Institute. The institute was inaugurated during the “2024 Second e-CNY Industry Sustainable Development Seminar” in Suzhou, which gathered leading industry experts.
The seminar was supported by the Suzhou City Digital Finance Industry Federation and MPayPass. The institute will function as a think tank consisting of experts focused on rational pragmatism and cautious innovation.
Operating under a “joint expert construction” model, the institute aims to leverage market dynamics to promote the sustainable development of the digital yuan industry.
At the event, representatives from the organizing bodies, along with Mu Chu, the editor-in-chief of MPayPass, and Wu Wenjun, the Secretary-General of the e-CNY Research Institute, conducted the official opening ceremony. Wu was presented with his appointment as Secretary-General, after which he awarded certificates to the first group of experts.
The initial group of experts includes representatives from the Industrial and Commercial Bank of China, MYbank, Suzhou Bank, Tencent, Huawei, JD Technology, Zhejiang University, Nanjing Audit University, among other institutions. Their focus includes industrial research, project development, standard setting, and talent development to enhance industry collaboration.
On April 19, the Institute held a meeting to outline its strategic direction and methodological approach. This session aimed to set specific goals and plans for the future.
Moving forward, the institute plans to expand its professional network and enhance project implementation and standardization. Through case sharing, awarding excellence, evaluating projects, and hosting offline events, it aims to stimulate the development of the digital yuan.
