China Opens e-CNY Research Institute, Appoints First Expert Panel

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Hongji Feng

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Hongji Feng

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Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

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April 19, 2024 01:31 EDT

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The e-CNY Research Institute has been inaugurated to support advancements of China’s central bank digital currency (CBDC).

According to a recent report by MPayPass, institute was unveiled at the “2024 Second e-CNY Industry Sustainable Development Seminar” in Suzhou, where industry experts gathered to mark the occasion.

The Seminar was co-hosted by the Suzhou City Digital Finance Industry Federation and MPayPass.

e-CNY Research Institute for Sustainable Development

The e-CNY Research Institute would function as a think tank composed of experts committed to rational pragmatism and conservative innovation.

Operating with a “joint expert construction” model, the institute aims to harness market dynamics to foster the sustainable progression of the digital yuan industry.

During the event, representatives from the initiating organization along with Mu Chu, the editor-in-chief of MPayPass, and Wu Wenjun, the Secretary-General of the e-CNY Research Institute, led the official unveiling ceremony.

Mu presented Wu with his appointment letter as Secretary-General, who then proceeded to award certificates to the inaugural group of experts.

Experts Coming From Various Backgrounds

The first group of experts includes representatives from Industrial and Commercial Bank of China (ICBC), MYbank, Suzhou Bank, Tencent, Huawei, JD Technology, Zhejiang University, Nanjing Audit University, among other institutions.

The list brings together banks, payment and tech companies, academics, and media to focus on industrial research, project development, standard setting, and talent development to enhance industry collaboration.

On April 19, the Institute convenes a kickoff meeting to outline its strategic direction and methodological approach. This gathering will focus on setting tangible goals and mapping out the institute’s future initiatives.

Moving forward, the institute plans to expand its professional network and enhance project implementation and standardization. By facilitating case sharing, awarding excellence, evaluating projects, and hosting offline events, it aims to drive digital yuan’s development.