In recent years, the asset size of China’s banking and financial institutions has continued to grow rapidly, and it is expected to maintain a high growth rate in the future, providing a favorable environment for the sustainable development of the financial equipment industry. At the same time, the People’s Bank of China’s “zero tolerance” policy for counterfeit currency, the national standard for A-level counting and verification machines, the requirement for “full clearing” of commercial banks (that is, all bank outlets must be equipped with clearing machines in 2020), the crown number inquiry policy and the issuance of the new version of RMB 100 banknotes have all set high requirements for the sustainable development capability and technology foresight of financial equipment enterprises, and also provide broad market capacity and market demand for high-tech and highly reliable financial equipment. These factors have provided good conditions for the sustained rapid growth of China’s financial equipment market.
Strengthening policies to promote the development of the financial equipment market

With the rampant counterfeiting and selling in the market, the central bank has increasingly high requirements on the circulation quality of paper currency, and then introduced policies such as “zero tolerance of counterfeit currency” and “full clearing”. On January 18, 2013, the General Office of the People’s Bank of China issued the Guiding Opinions on Special Governance of Banking Financial Institutions for External False Payment, which pointed out that the goal of full clearing of cash paid by provincial capital level outlets of national banks and some local bank outlets should be achieved no later than the end of 2015; By the end of 2017, achieve the goal of fully clearing cash payments from all city level branches and local bank branches nationwide; By the end of 2020, the goal of achieving full cash clearance for all branches at or below the county level can be extended up to the end of 2022.

At present, the overall allocation rate of sorting machines in China’s banking and financial institutions is relatively low. The implementation of the “full sorting” policy will bring huge market demand to China’s paper currency sorting machine industry and accelerate the release of market demand.

At the same time, according to the relevant person in charge of the China Banking Regulatory Commission, the commission will select the first batch of five private bank pilot schemes from the recommended pilot schemes submitted by various regions in accordance with the requirements of the Central Leading Group for Deepening Reform and the State Council. Private capital such as Alibaba, Wanxiang, Tencent, Baiyeyuan, Junyao, Fosun, Shanghui, Huabei, Zhengtai, and Huafeng who participated in the design of the pilot schemes will participate in the pilot work. This pilot project will follow the principle of co initiators and carry out relevant preparatory work according to the requirement of no less than 2 initiators per pilot bank. These pilot banks will be located in Tianjin, Shanghai, Zhejiang, Guangdong and other regions.

It can be foreseen that with the launch of private banks, China’s private banks have entered a stage of substantial and rapid development, and the number of financial institutions will continue to increase, which is expected to further stimulate the demand growth of the financial equipment market.