In order to implement the general requirements of the Third Plenary Session of the 20th Central Committee of the Communist Party of China on "steadily promoting the research and development and application of digital RMB", according to the People's Bank of China's plan for the pilot work of digital RMB, Shanghai has formulated a new round of action plan for the pilot application of digital RMB, and held a work deployment meeting on November 4. The action plan is clear, to further steadily promote the application and service innovation of digital RMB, and strive to form a digital RMB ecosystem with wide coverage of scenarios, good payment service experience, rich innovation and application, and active participation of all parties by the end of 2025.