Shenzhen's first innovation space dedicated to promoting digital renminbi applications was unveiled in Luohu District on May 21.

Located on the eighth floor of the Shum Yip Taifu Technology Innovation Building, the space brings together digital renminbi operators, technology companies and scenario developers. It is designed as a platform for showcasing achievements, interactive experiences, new product launches and ecosystem incubation.

The launch also marked a broader push by Luohu to develop its digital finance ecosystem. On the same day, Luohu upgraded its digital finance industrial park, with 10 companies signing agreements to move in. Ten digital renminbi demonstration scenarios were also presented, covering consumer, business, government and cross-border applications. A new list of scenario opportunities and innovative solutions was released, along with Luohu's work plan for further promoting digital renminbi applications.

As a core platform for the debut and wider application of digital renminbi innovations, the industrial park will continue to attract high-quality companies and improve full-chain services. It aims to gather more than 100 leading digital finance enterprises within three years and incubate a group of nationally recognized digital renminbi application scenarios.

The newly unveiled innovation space will serve as a front-facing window for display and exchange. It will regularly host roadshows, industry salons and product launches, helping make digital finance innovations more visible, accessible and replicable.

The work plan released at the event sets out Luohu's development path for digital finance. With the innovation space as the main carrier, application scenarios as the key driver and policy support as the institutional guarantee, Luohu will work to build a sound cycle linking technology, industry and finance.

The 10 demonstration scenarios cover a wide range of fields. Consumer-side applications include consumption subsidies, public transport and retail payments. Business-side applications focus on supply chain finance, smart contracts and corporate account management. Government-side applications include public payments, direct subsidy distribution and government settlement. Cross-border applications focus on trade settlement and payment services.

Luohu also released its third batch of scenario opportunities for 2026 in the digital renminbi field, focusing on livelihood consumption, government services, supply chain finance and cross-border trade.

Several innovative solutions were introduced at the event. Agricultural Bank of China Shenzhen Branch presented a digital renminbi-enabled agricultural supply chain service, using targeted payments, smart contracts and prepaid fund supervision to improve settlement, transparency and financing support. Huazhi Future introduced a digital renminbi smart contract factory, which uses AI to convert policies and contracts into payment rules and support automated, traceable execution across scenarios such as subsidies and settlement.