PANews reported on November 4 that according to the official microblog of Shanghai Finance, in order to implement the general requirements of the Third Plenary Session of the 20th CPC Central Committee on "steadily promoting the development and application of digital RMB", and in accordance with the People's Bank of China's deployment on the digital RMB pilot work, Shanghai has formulated a new round of action plans for the pilot application of digital RMB, and held a work deployment meeting on November 4. The action plan clearly states that it is necessary to further steadily promote the application and service innovation of digital RMB, and strive to basically form a digital RMB ecosystem with wide scene coverage, good payment service experience, rich innovative applications, and active participation of all parties by the end of 2025.