PANews reported on April 25 that the country's first medical procurement fund settlement scenario based on digital RMB smart contracts was recently launched in Guangzhou. Under the guidance of the Guangdong Branch of the People's Bank of China and the Financial Office of the Guangzhou Municipal Party Committee, the Guangzhou Branch of China Construction Bank and the Guangzhou Trading Group have implemented supplier fund contracting and automated settlement applications on the Guangzhou Drug and Medical Consumables Procurement Platform. In the first week of the launch, 86 transactions of 3.7 million yuan in payments were settled through smart contracts for platform suppliers, marking another major breakthrough in Guangzhou's innovation in digital RMB applications.