Yao Qian, director of the Science and Technology Supervision Department of the China Securities Regulatory Commission and former director of the Digital Research Institute of the Central Bank, was investigated

Source: Digital Legal Currency Research Society

According to the Central Commission for Discipline Inspection and the National Supervisory Commission’s Discipline Inspection and Supervision Group stationed at the China Securities Regulatory Commission and the Guangdong Provincial Commission for Discipline Inspection and Supervision on April 26, Yao Qian, Director of the Science and Technology Supervision Department of the China Securities Regulatory Commission and Director of the Information Center, is suspected of serious violations of discipline and law. He is currently undergoing disciplinary review by the Central Commission for Discipline Inspection and the National Supervisory Commission’s Discipline Inspection and Supervision Group stationed at the China Securities Regulatory Commission and supervisory investigation by the Shanwei Municipal Supervisory Committee of Guangdong Province.

Public information shows that Yao Qian, male, from Anhui, graduated from the Department of Information Management and the Department of Computer Science of Nanjing University with a doctorate in engineering.

Yao Qian worked in Yanshan Petrochemical in his early years. He joined the China Securities Regulatory Commission in May 1997 and served as a senior clerk and deputy director of the Computer Management Department of the Information Center. In October 2002, he was transferred to China Securities Depository and Clearing Co., Ltd., where he served as deputy director and director of the Technology Development Department and System Operation Department.

In December 2010, Yao Qian went to work at the People's Bank of China, where he served as a member of the Party Committee and deputy director of the Credit Information Center, and deputy director of the Science and Technology Department. The central bank began to prepare for the establishment of the Digital Currency Research Institute in 2016, and Yao Qian served as the head of the preparatory group. He officially took office as the first director in 2017. In his subsequent work, Yao Qian published many influential articles on digital currency.

After working at the People's Bank of China for 8 years, Yao Qian returned to China Securities Depository and Clearing Co., Ltd. as deputy secretary of the Party Committee and general manager. In December 2019, Yao Qian returned to the China Securities Regulatory Commission, where he served as director of the Science and Technology Supervision Bureau of the China Securities Regulatory Commission, director of the Science and Technology Supervision Department of the China Securities Regulatory Commission, and director of the Information Center.

As the former director of the Digital Currency Research Institute of the People's Bank of China, Yao Qian was once known as China's government official who understands blockchain best.

It is understood that Yao Qian is a technical official who has worked in the financial system for a long time and is familiar with financial technology. As we all know, the People's Bank of China has paid attention to blockchain and digital currency very early and has conducted corresponding research on this. It is precisely because of this that China is actually at the forefront of the world in the field of blockchain and digital currency.

In 2014, the People's Bank of China established a special research group on legal digital currency to demonstrate the feasibility of the central bank issuing legal digital currency and discuss the regulatory framework required for digital currency.

On January 20, 2016, the central bank held a digital currency seminar, and the goal of issuing digital currency to the public for the first time was publicly announced. This was the first public statement by a global central bank on legal digital currency, which attracted much attention in the industry. In the same year, the Central Bank Digital Currency Research Institute began to be organized. As a research institution under the central bank specializing in the technology and possible applications of digital currency, Yao Qian was the leader of the preparatory group.

In July 2016, the central bank launched the prototype research and development of a digital bill trading platform based on blockchain and digital currency, and decided to use the digital bill trading platform as a pilot application scenario for legal digital currency, and use the digital bill trading platform to verify blockchain technology.

In July 2017, the Central Bank Digital Currency Research Institute was officially established. Yao Qian and Di Gang had previously served as the director and deputy director of the institute.

As a research institute affiliated with the central bank, the staff of the Digital Currency Research Institute can be said to have conducted in-depth research on digital currency and published many influential articles. Take Yao Qian as an example. From 2016 to 2018, he published more than 30 related articles.

The articles of Yao Qian and others and their speeches at relevant conferences are generally regarded as the latest views of the central bank on digital currency. Moreover, Yao Qian's articles are extremely in-depth and have a great impact on the development of the central bank's digital currency and digital RMB.