Abstract

The supply chain finance in China has gone through the traditional offline stage, online stage, and internet stage, and is currently in the digitalization stage, which has made contributions to solving the financing problems of small and medium-sized enterprises with the strong push of technology. In recent years, with the research and promotion of digital RMB in China, as well as the extensive application of digital technologies such as IoT, blockchain, artificial intelligence, and big data in supply chain finance, the new supply chain finance model powered by digital RMB has gradually attracted attention from all walks of life. The digital RMB in China has gone through the research and development stage, promotion stage, test stage, and pilot stage, and has the characteristics of unlimited legal tender, dual-layer operating system, anonymity, controllability, and offline operation. Considering the pain points of traditional supply chain finance, such as lack of technical security, insufficient network infrastructure, and lack of laws and regulations, this paper proposes three innovative models of "digital RMB + prepayment", "digital RMB + accounts payable", and "digital RMB + inventory pledge", and elaborates on the operation design of the three innovative models from the core connotation and operation process perspectives. Furthermore, in light of the current technical security shortcomings, imperfect network infrastructure, and lack of laws and regulations in the operation of digital renminbienabled supply chain finance models, it is proposed to strengthen the digital renminbi security system, innovate supply chain finance platform construction, and intensify efforts to improve laws and regulations.

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