On March 18, 2023, Huarui Fintech Salon (No.7): New Development in Quantum Fintech was successfully held at the Wenhua Building of Renmin University of China (RUC), co-organized by Shanghai Huarui Bank, the International Monetary Institute (IMI) of Renmin University of China, and FinTech Institute of RUC, with the cooperation of the China Banking Research Center of RUC. Wang Yanbo, Chief Data Scientist of Longying Zhida (Beijing) Technology Co., Ltd., gave a keynote speech. Ding Jintai, a lifetime professor at Tsinghua University, a professor at the Beijing Yanqi Lake Applied Mathematics Institute, and Chief Quantum Security Scientist at CCB Fintech, Ma Yin, Founder and Chief Operating Officer of QBoson, Yang Dong, Dean of the School of Interdisciplinary Studies at RUC, and Yang Tao, Deputy Director of the National Institution for Finance & Development (NIFD), participated in the seminar. The event was hosted by Luo Yu, Deputy Secretary of the Party Committee and Professor of the School of Finance of RUC.

Wang Yanbo, Chief Data Scientist of Longying Zhida (Beijing) Technology Co., Ltd., gave a keynote speech on “Future Trends in Quantum Fintech”. He stated that General Secretary Xi Jinping has repeatedly emphasized the need to accelerate the research and development and application of cutting-edge technologies, including quantum computing. It is important to seize the opportunities generated through restructuring of global industrial structure and layout, and open up new playing fields. Quantum technology is now of national strategic significance. In 1900, Planck proposed the hypothesis of radiation quanta, opening a new chapter in quantum mechanics. Under the continuous efforts of numerous well-known scientists, the relevant normative theories of quantum have rapidly developed. In December 2020, Wu Yongfei, Chief Information Officer of Huaxia Bank, led a team to publish an article in “Financial Computer of China” on quantum fintech, proposing a set of framework methodologies. After subsequent promotion and updates, the 8M framework methodology of quantum fintech was finally clarified, including quantum computing, memory storage, algorithmics, algorithms, financial markets, currency, measurement, and encryption communication. Under this framework, we have applied specific scenarios of commercial banks and explored many applications of quantum fintech, such as risk management, asset pricing, and portfolio optimization using quantum technology. As the digital transformation of the financial industry accelerates, more and more financial institutions are paying attention to and investing in the field of quantum fintech. 2022 was also defined as the first year of quantum fintech, with more application scenarios emerging in the future. The next step will be to promote the development of quantum technology in financial applications, including the combination of quantum communication and blockchain, exploration of quantum direct communication and data security, data composite management, and the application of quantum cloud platforms in the financial field.