Core Viewpoint - The digital renminbi has transitioned from a "digital cash era" to a "digital deposit currency era," with the launch of the upgraded version 2.0 of the digital renminbi App, which will start paying interest on real-name wallet balances from January 1, 2026 [1][6]. Group 1: Digital Renminbi App Upgrade - The digital renminbi App has undergone 54 iterations since its launch in January 2022, focusing on enhancing user experience [1]. - The significant change in version 2.0 is the introduction of interest payments on real-name wallet balances, which will be calculated based on the current deposit rate of designated operating institutions [1][2]. Group 2: Interest Payment Mechanism - Ten banks have announced that they will pay interest on real-name digital renminbi wallet balances at a rate of 0.05%, consistent with their current savings deposit rates [2][5]. - Interest will only be paid on real-name wallets, which are classified into four categories based on user identification strength, with different transaction limits and requirements for each type [5][6]. Group 3: Implications for Financial Institutions - The transition to a digital deposit currency signifies a shift from central bank liabilities to commercial bank liabilities, integrating digital renminbi into the deposit insurance framework and reserve requirements [6][8]. - This change allows commercial banks to innovate on the asset side, as they will have management and revenue rights over digital renminbi deposits, promoting a sustainable market-driven promotion mechanism [9]. Group 4: Future Developments - The digital renminbi's ability to earn interest addresses previous concerns about its lack of yield, enhancing its attractiveness to users [8]. - Commercial banks are expected to introduce traditional financial products that can be purchased with digital renminbi, further integrating it into the financial ecosystem [9].

Core Viewpoint - The digital renminbi is transitioning from a "digital cash era" to a "digital deposit currency era," allowing users to earn interest on their digital renminbi wallet balances starting January 1, 2026, with the potential to purchase traditional financial products using digital renminbi [1][10]. Group 1: Digital Renminbi Wallet and Interest - The digital renminbi app has been upgraded to version 2.0, enhancing user experience and introducing interest payments on real-name wallet balances at the bank's current demand deposit rate, which is currently 0.05% [1][2][10]. - Interest will only be paid on real-name digital renminbi wallets, which are classified into four categories based on user identification strength, with only the first three categories eligible for interest [6][8]. - Users can check their interest details in the digital renminbi app after the quarterly interest settlement dates, which are March 20, June 20, September 20, and December 20 [2][16]. Group 2: Implications for Banking and Financial Products - The transition to a digital deposit currency means that digital renminbi will be treated as a liability of commercial banks, thus falling under deposit insurance protection and being included in the reserve requirement base [9][10]. - This change is expected to encourage commercial banks to innovate in asset management and create a sustainable market-driven promotion mechanism for digital renminbi [11][10]. - The digital renminbi's ability to earn interest addresses previous concerns about its lack of yield, making it more attractive to users and facilitating its integration into traditional financial systems [10][11]. Group 3: Regulatory and Operational Framework - The People's Bank of China is overseeing the digital renminbi's transition, ensuring compliance with anti-money laundering regulations and providing a framework for its integration into the existing banking system [9][10]. - The digital renminbi's new structure allows for better alignment with traditional banking operations, reducing compliance costs and enhancing the overall efficiency of the financial system [10][11].

Core Viewpoint - From January 1, 2026, Bank of Communications will pay interest on the balances of digital RMB real-name wallets (including Class 1, Class 2, Class 3 personal wallets and corporate wallets) at the current deposit benchmark interest rate. Balances in Class 4 personal wallets will not earn interest [1] Summary by Category Interest Payment Policy - Digital RMB wallets will earn interest based on the current deposit benchmark interest rate starting January 1, 2026 [1] - Class 4 personal wallets will not receive any interest on their balances [1] Customer Information - Customers can check the specific interest rate standards through the Bank of Communications official website, mobile banking app, or at physical branches [1] - For inquiries, customers can contact the Bank of Communications customer service hotline at 95559 or the unified digital RMB customer service hotline at 956196 [1]

2026年1月1日，招商银行（600036）发布公告称，自2026年1月1日起，招商银行将为数字人民币实名钱 包余额按照本行活期存款挂牌利率计付利息，计结息规则与活期存款一致。 ...

Core Viewpoint - The digital renminbi is transitioning from a "digital cash era" to a "digital deposit currency era" starting January 1, 2026, allowing interest to be paid on user balances in real-name wallets [1] Group 1: Digital Renminbi Features - From January 1, 2026, the balance in real-name digital renminbi wallets will earn interest based on the current deposit rate [1] - Users can view interest details by accessing the wallet asset page after the quarterly interest settlement date [1] Group 2: App and Interface Updates - The digital renminbi App has been upgraded to version 2.0, featuring an optimized wallet interface design [1] - Different traditional floral designs, such as peony, plum blossom, lotus, and orchid, are used as main visual elements for the wallet interface of ten different operating institutions [1] Group 3: Regulatory Framework - The People's Bank of China has introduced an action plan to strengthen the management and service system for digital renminbi, with a new measurement framework and operational mechanisms set to launch on January 1, 2026 [1] - Banks will be responsible for paying interest on the balances of customers' real-name digital renminbi wallets, indicating a shift from cash in circulation to deposit-like functionality [1]

Core Viewpoint - The People's Bank of China has introduced an action plan to enhance the management and service system of digital RMB, marking a transition from cash-based version 1.0 to deposit currency version 2.0, effective January 1, 2026 [1][2] Group 1: Upgrades in Digital RMB - Monetary attribute upgrade: Digital RMB evolves from a mere payment tool to an interest-bearing, manageable currency that can be integrated into the financial safety net, significantly surpassing traditional cash functions [1][2] - Account relationship upgrade: While retaining the wallet form, the legal and economic attributes of the real-name wallet approach that resembles a special form of bank deposits [1][2] - Regulatory logic upgrade: The 2.0 phase of digital RMB transitions from technical trials to a long-term, rule-based operational phase, with a more mature and standardized regulatory framework [1][2] Group 2: Financial Infrastructure and Implications - Financial infrastructure upgrade: The measurement framework, clearing logic, and risk isolation mechanisms of digital RMB are aligning with deposit-like financial infrastructure, enhancing the overall system [2] - Interest payment on digital RMB wallets: Banks can pay interest on real-name digital RMB wallet balances, adhering to self-discipline in deposit rate pricing, marking a significant shift in the legal and economic attributes of digital RMB [2][3] - Impact on residents: The introduction of interest payment rules expands the functionality of digital RMB beyond a "pocket money" payment tool, potentially serving as a short-term fund parking tool, influencing users' fund allocation habits [2][3] Group 3: Regulatory Maturity - Maturity of regulatory thinking: The design of a controllable "deposit-like" development path through real-name management, interest rate self-discipline, and clear bank management responsibilities reflects a prudent monetary governance approach [3]

Core Viewpoint - The digital renminbi has transitioned from the "digital cash era" to the "digital deposit currency era" with the launch of the upgraded digital renminbi App version 2.0 [1] Group 1: Digital Renminbi Features - Starting from January 1, 2026, the balance in the real-name digital renminbi wallets will earn interest based on the current deposit rate [1] - Users can view interest details by accessing the wallet asset page after the quarterly interest settlement date [1] Group 2: App Upgrade Details - The wallet interface has been redesigned with different traditional floral elements as the main visual for various digital renminbi business operators [1] - Version 2.0 introduces a wallet skin setting feature, launching four thematic series: Seasons, Famous Paintings, National Style, and Life, offering a total of 16 skins to choose from [1]

Core Viewpoint - The introduction of interest-bearing digital RMB wallets by six major state-owned banks marks a significant transition from a cash-like version to a deposit currency version, enhancing the functionality of digital RMB and aligning with the People's Bank of China's action plan for digital currency management [5][9]. Policy Core: Real-name Interest Calculation and Security Boundaries - The interest-bearing policy applies to personal and corporate real-name wallets, with interest calculated at a rate of 0.05% per annum, similar to current savings accounts, with quarterly interest payments [6]. - Non-real-name wallets, which only require mobile number verification, are excluded from interest calculations, emphasizing the importance of real-name systems for financial security [6]. Promotion Foundation: Scale and Scenarios - As of November 2025, digital RMB has processed 3.48 billion transactions totaling 16.7 trillion yuan, with 230 million personal wallets and 1.884 million corporate wallets established, indicating a growing user base [7]. - The application scenarios for digital RMB span various sectors, including retail, dining, education, and cross-border payments, showcasing its potential for widespread adoption [7]. Supporting Upgrades: App 2.0 Enhancing User Experience - The digital RMB App has been upgraded to version 2.0, addressing user needs for interest tracking and enhancing interface design with personalized themes, thereby improving user engagement [8]. In-depth Interpretation: Win-Win Institutional Innovation - The core significance of the interest-bearing policy lies in the transformation of digital RMB's legal status from a central bank liability to a commercial bank liability, creating a mutually beneficial incentive mechanism for users and banks [9]. - This initiative positions China as a leader in the global exploration of central bank digital currencies, reinforcing financial security through innovative regulatory measures [9].

Group 1 - The six major state-owned banks in China will start paying interest on the balances of real-name digital RMB wallets at the same rate as current deposit rates, effective January 1, 2026 [1][3] - The current interest rate for current deposits is set at 0.05%, and only real-name wallets (categories one, two, and three) will earn interest, while anonymous wallets (category four) will not [1][3] - The People's Bank of China has introduced a new action plan to enhance the management and service system for digital RMB, which will officially launch on January 1, 2026 [3] Group 2 - The action plan allows banks to manage the assets and liabilities of digital RMB wallet balances independently, while ensuring the same level of security as traditional deposits through deposit insurance [3]

Core Viewpoint - The implementation of interest-bearing digital RMB wallets by six major state-owned banks in China marks the transition of digital RMB from "digital cash" to "digital deposit currency" starting January 1, 2026 [1][2]. Group 1: Digital RMB Wallet Policy - The six major banks will apply interest on personal and corporate wallets (categories 1, 2, and 3) at the current rate of 0.05%, aligning with regular savings account interest rates, while category 4 wallets will not earn interest due to their non-real-name status [2]. - This policy is part of the People's Bank of China's initiative to enhance the management and service system for digital RMB, establishing a new ecosystem for its measurement, management, and operation [2]. Group 2: Digital RMB Usage and Adoption - As of November 2025, digital RMB has processed 3.48 billion transactions with a total transaction value of 16.7 trillion yuan, indicating significant adoption [3]. - The digital RMB app has facilitated the opening of 230 million personal wallets and 18.84 million corporate wallets, with cross-border payment transactions amounting to 387.2 billion yuan, where digital RMB accounts for approximately 95.3% of the total [3]. Group 3: Wallet Opening Process - Users can open digital RMB wallets through various banks, including six major state-owned banks and several joint-stock banks, with pilot programs expanded to multiple provinces and municipalities [6]. - The wallet opening process involves downloading the official app, completing real-name authentication, selecting wallet types, and optionally binding a bank card for transactions [7][9][10].