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the "decision of the cpc central committee on further comprehensively deepening reforms and promoting chinese-style modernization" adopted at the third plenary session of the 20th cpc central committee made arrangements for deepening financial system reform and proposed "actively developing science and technology finance, green finance, inclusive finance, pension finance, and digital finance". these five major financial areas are exactly the "five major articles" proposed at the central financial work conference held in october 2023.

the "five major articles" are anchored in the key areas of high-quality financial development, and are innovative and systematic plans that conform to the core productive forces with science and technology and data as the key production factors.

in recent years, under the leadership of china unionpay, china financial certification center co., ltd. (hereinafter referred to as cfca) has actively integrated into the wave of digital economy, seized opportunities, and taken advantage of the momentum to accelerate the construction of a "trusted digital identity system", enabling the digital transformation and upgrading of thousands of industries, laying a security foundation for supporting the "five major articles" of finance, and contributing more state-owned enterprise strength to better drive new quality productivity and serve china's modernization.

break through digital identity technology barriers and improve the technological and financial innovation system

the innovation and application of scientific and technological means are the key paths to improve the efficiency of financial services, reduce operating costs, and help financial resources enter the field of scientific and technological innovation in the long term. cfca is based on finance, continuously improves the support system of science and technology finance, and strives to build the cfca digital identity service infrastructure. on this basis, cfca provides all walks of life with full-chain and full-life cycle relay data security services such as trusted digital identity management, trusted digital identity applications, and trusted digital identity traceability.

cfca has broken through the concept of digital identity with natural persons as the main body, and established a full-coverage digital identity system with natural person identity information, legal entity information, object attribute information, and even production factor information as the main body. it is of great significance in realizing the comprehensive interconnection and interoperability of digital objects and privacy identity management. in response to the problems of "non-autonomous", "uncontrollable" and "untrustworthy" identities, cfca, based on cryptographic algorithms, distributed identity technology, blockchain, etc., meets the requirements of real-name registration and kyc, and effectively guarantees the authenticity of identity information on the basis of complying with personal authorization, realizing the security, reliability, autonomy and controllability of digital identities. cfca also proposed trusted digital identity credential application solutions based on various application modes such as localization, saas, and hybrid cloud provide one-stop digital identity services for many online business activities such as electronic signing and online payment. at the same time, cfca deepens strategic collaboration with china unionpay head office, and widely connects in unionpay network trust, cloud platform construction, and other aspects to jointly realize the integrated development of digital identity. in the next step, cfca will focus on major national scientific and technological projects and key areas of various industries, and continue to promote the construction of a trusted digital identity system for "individuals, legal persons, and devices, and multiple scenarios at home and abroad", and build a digital identity service system that is in line with the goal of high-level scientific and technological self-reliance.

establish the concept of cost reduction and efficiency improvement transformation and explore the development model of green finance

at present, my country has initially formed a policy system and market environment to support the development of green finance, and green finance plays a major role in promoting the green transformation of the economy. focusing on the implementation of the "three major functions" and "five pillars" of green finance development policy ideas, cfca trusted digital identity applications are committed to reducing the frequency of offline business interactions and the transportation costs of paper materials, solving problems such as easy tampering of identity information and difficult traceability of dispute resolution, and guiding various industries to build a green finance development model with the core concept of "reducing costs and increasing efficiency, returning to value creation".

every application of digital identity and every paperless business transformation can promote the green environmental protection and sustainable development of the ecological environment. using digital identity for online authentication and green contract signing to achieve the "0 paper, 0 printing, 0 transportation" application model will save about 5 billion sheets of paper per year and protect more than 50,000 trees; every upgrade and improvement of infrastructure and security mechanisms will reduce the cost of interconnection between enterprises and industries, and promote mutual trust, mutual recognition and cultural exchanges in multiple regions. cfca will continue to promote the trusted digital identity system and help the digital economy develop in a more efficient, greener and more energy-saving direction.

accelerate the process of digital transformation and create a new digital financial industry

digital finance has the triple attributes of finance, technology and data. financial institutions should continue to deepen industry-tech integration and data empowerment, use digital technology to promote convenient sharing and precise matching of financial resources, provide customers with personalized and intelligent financial services, promote the deep integration of the real economy and the digital economy, and firmly grasp the political and people-oriented nature of financial work.

cfca conforms to the changes in the digital economy era, takes digitalization as the underlying business logic, and actively promotes the digital transformation of various industries including the financial industry with the help of digital technologies such as digital identity, blockchain, big data, and artificial intelligence. it takes users as the center and allows the development results of digital finance to continuously benefit the production and life of the people. today, the cfca trusted digital identity system is deeply rooted in the financial industry, and its applications are spread across third-party payment, financial leasing, supply chain finance, auto finance, consumer finance and other business areas, providing basic support for the development of new digital financial formats.

in terms of globalization, cfca connects to global digital identity standard systems such as lei and verifiable global legal entity identifier (vlei), which can support financial institutions in conducting digital identity mutual recognition services worldwide. in scenarios such as legal person electronic identity registration and corporate registration, the application of lei codes will promote international mutual recognition of identity signatures, effectively support international financial businesses such as cross-border financing and cross-border bonds, and achieve a high level of openness in digital finance.

facing the new requirements of building a financial power and the new situation of developing the digital economy, cfca, as the leader of the information security industry, will actively practice the social responsibility and contemporary responsibility of state-owned enterprises, uphold political thinking, united front thinking, bottom-line thinking, innovative thinking, value thinking, and systematic thinking, build a trusted digital identity infrastructure, and strive to build a financial digital identity trust system, and continue to strive to create a new situation in digital security, digital economy, and digital china. text/huang xu

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