Beijing has approved its first digital RMB guaranteed loan, amounting to 1 million yuan, under the guidance of the National Financing Guarantee Fund. The loan was facilitated by Beijing's Re-guarantee Company, Guohua Guarantee, and Beijing Rural Commercial Bank. It was provided to a local energy company through the 'Kunpeng FastPay' platform, a digital financial technology initiative by Sinopec. The energy company received the funds via its digital RMB wallet and utilized them to pay employee salaries. This digital RMB loan model offers advantages over traditional financing, including faster disbursement, enhanced traceability, and anti-tampering features, marking a significant step in the adoption of digital currency in financial transactions.