Core Viewpoint - The People's Bank of China has announced that starting January 1, 2026, digital yuan wallet balances will earn interest, marking a significant shift in the digital currency landscape and positioning China as the first central bank digital currency (CBDC) economy to implement interest payments on digital deposits [3][4][5][6]. Group 1: Market Reaction - Digital economy and digital currency concepts have seen strong gains in the stock market, with notable increases in related stocks such as Digital Certification, which rose over 17%, and others like Yuyin Co. and Cuiwei Co. achieving consecutive gains [1][2]. - The stock performance of key companies includes: - Digital Certification: +17.86% to 35.11 CNY, market cap 94.8 billion CNY - Yuyin Co.: +10.04% to 8.55 CNY, market cap 65.08 billion CNY - Cuiwei Co.: +9.98% to 17.63 CNY, market cap 140.82 billion CNY - Aerospace Information: +9.96% to 11.59 CNY, market cap 214.75 billion CNY [2]. Group 2: Digital Yuan Developments - The transition from "digital cash" to "digital deposits" signifies a new era for the digital yuan, enhancing its role in the financial ecosystem [3][6]. - The new framework for the digital yuan will include a management system and operational mechanisms that align with modern digital payment and circulation methods, supported by central bank technology [7]. - As of November 2025, the digital yuan has processed 3.48 billion transactions, amounting to 16.7 trillion CNY, showcasing its growing adoption [9]. - The digital yuan's international competitiveness is highlighted by its 95.3% share in cross-border payments processed through the mBridge platform, which has handled 4,047 transactions worth 387.2 billion CNY [10][11]. Group 3: Future Implications - The introduction of interest on digital yuan balances is expected to bolster China's position in the global CBDC landscape and support the internationalization of the yuan [12]. - The financial market is optimistic about the implications for cross-border payments, banking IT systems, and financial hardware wallets, with expectations of significant growth in these areas [13].

中国人民银行近日发布《关于进一步健全 ...

Core Viewpoint - The People's Bank of China has introduced an action plan to strengthen the management and service system of digital RMB, which will officially start on January 1, 2026, marking the transition from digital cash to digital deposit money. Group 1: Digital RMB Interest Payment - Banks will pay interest on the balances of real-name digital RMB wallets, adhering to self-discipline agreements on deposit interest rates [2][4]. - After January 1, 2026, digital RMB held by commercial bank customers will be converted into bank deposits, generating interest income [4]. - The interest payment standards for digital RMB deposits will reference the current interest rates for demand deposits set by operating institutions, with strict adherence to self-discipline agreements on deposit rates [6][7]. Group 2: Deposit Insurance and Security - Digital RMB deposits will have the same attributes as ordinary bank deposits and will be included in the deposit insurance scheme, providing a maximum compensation limit of 500,000 yuan in case of bank risk [9]. - Only real-name digital RMB wallet balances will earn interest due to the need for clear identification of fund ownership, which aligns with anti-money laundering regulations and supports deposit insurance implementation [11]. Group 3: Digital RMB Operating Institutions - There are currently 10 designated operating institutions for digital RMB, including 6 large state-owned commercial banks, 2 joint-stock commercial banks, and 2 internet banks [13][15]. - The People's Bank of China is working on expanding the number of operating institutions for digital RMB [16].

（记者 胡玲） 每经AI快讯，有投资者在投资者互动平台提问：可以介绍一下公司的数字人民币方向的业务吗？看资 料公司是业内参与此项目较早的，请问发展的情况如何？ 神思电子（300479.SZ）12月30日在投资者互动平台表示，公司的相关产品已为能源、医疗、公交、餐 饮等领域提供服务。公司将跟随行业发展，不断探索数字人民币生态下新的商业模式。目前公司数字人 民币业务营业收入占比较小，未对公司经营业绩产生重大影响。 ...

神思电子12月30日在互动平台表示，公司的相关产品已为能源、医疗、公交、餐饮等领域提供服务。公 司将跟随行业发展，不断探索数字人民币生态下新的商业模式。目前公司数字人民币业务营业收入占比 较小，未对公司经营业绩产生重大影响。 ...

Core Insights - The digital renminbi wallet will start earning interest like a bank's demand deposit from January 1, 2026, marking a significant shift in its monetary policy [1] - The digital renminbi transitions from a central bank liability (cash-like) to a commercial bank liability (deposit-like), entering a new era of "deposit currency" [2] User Impact - Increased willingness to use: The introduction of interest will make digital renminbi more attractive compared to traditional bank deposits and third-party financial tools [5] - Financial system optimization: The new policy mitigates the risk of "financial disintermediation" by ensuring funds return to the banking credit cycle, thus maintaining financial stability [5] - International leadership: China becomes the first economy to design an interest mechanism for central bank digital currency (CBDC), reinforcing its leadership in the digital currency space [5] Industry Opportunities - Bank IT transformation: Core systems will need to adapt to the deposit currency attributes, benefiting companies like Changliang Technology and Shenzhou Information [6] - Hardware terminal updates: POS machines and ATMs will face a wave of digital replacements, providing opportunities for firms like Newland and Newland Digital [6] - Security and encryption demand: There will be a growing need for technology to ensure transaction stability, benefiting companies like Weishitong [6] Existing Controversies and User Pain Points - Insufficient convenience: Some users find the transfer process cumbersome, requiring bank card intermediaries, and offline merchant coverage remains lower than WeChat and Alipay, especially in smaller cities [7] - Reduced incentive for usage: The decrease in promotional activities like consumption red envelopes and discounts during the early pilot phase affects daily usage motivation [8] - Varied technology acceptance: Older demographics show lower acceptance of digital interfaces, despite improvements in accessibility features like voice interaction [9] Data Support and Future Layout - Current scale: As of November 2025, the cumulative transaction amount reached 16.7 trillion yuan, with 230 million personal wallets opened [10] - Dual-center architecture: The Shanghai International Operations Center focuses on cross-border settlements, while the Beijing center oversees technical security [10] - Inclusive deepening: Plans to expand features like "pay-as-you-go" (automatic bank card recharge) and smart contracts (conditional payments) to enhance user convenience [10]

Core Viewpoint - The People's Bank of China has introduced an action plan to enhance the management and service system of the digital renminbi, which will take effect from January 1, 2026, allowing banks to pay interest on customers' real-name digital renminbi wallet balances [2][3] Group 1: Digital Renminbi Overview - The digital renminbi, a legal digital currency issued by the People's Bank of China, can be used in various scenarios such as transportation, dining, shopping, and utility payments [3] - The action plan establishes a framework for measuring digital renminbi and incorporates it into the reserve requirement system, marking a transition from a cash-like version to a deposit currency version [3] Group 2: Interest Payment Mechanism - Banks will pay interest on customers' real-name digital renminbi wallet balances, adhering to self-regulatory pricing agreements for deposit interest rates [3] - The digital renminbi will transition from being considered "electronic change" to "digital deposits" that earn interest [3] Group 3: Wallet Types and Management - Digital renminbi personal wallets can be opened through designated operating institutions, which currently include 10 banks [4] - Wallets are categorized into four types based on identity verification strength, with varying levels of anonymity and balance limits [4][6] - The first two wallet types require bank account binding, while the third and fourth types have additional operational requirements for recharging or returning funds to banks [4] Group 4: Interest Accrual and Limits - Different wallet types have specific balance limits, with the first type having no upper limit and the second to fourth types capped at 500,000, 20,000, and 10,000 respectively [6] - Not all wallet types will earn interest; only real-name wallets (first, second, and third types) will receive interest based on the People's Bank of China's rules for current deposit interest [6] - The digital renminbi is included in the deposit insurance scheme, providing the same level of security as bank deposits [6] Group 5: Transaction Statistics - As of November 2025, the digital renminbi has processed 3.48 billion transactions, with a total transaction amount of 16.7 trillion yuan, and 230 million personal wallets have been opened [7]

Group 1 - The People's Bank of China has introduced an action plan to strengthen the management service system and related financial infrastructure for digital RMB, with a new framework set to be implemented on January 1, 2026 [2] - From January 1, 2026, digital RMB wallet balances will earn interest similar to demand deposits, marking a transition from "digital cash" to "digital deposit currency" [2] - By the end of November 2025, digital RMB has processed 3.48 billion transactions with a total transaction amount of 16.7 trillion yuan, showing positive results in various sectors including retail, education, and cross-border payments [2] Group 2 - The implementation of the plan signifies the evolution of digital RMB from cash-type 1.0 to deposit currency-type 2.0, supported by central bank technology and regulatory oversight [3] - The future digital RMB will function as a modern digital payment and circulation method within the financial system, possessing attributes of commercial bank liabilities and compatible with distributed ledger technology [3] - Following the announcement, related digital currency concept stocks in the capital market saw significant activity, with notable increases in stock prices for companies such as Digital Certification and Yuyin Co [3]

Core Viewpoint - The People's Bank of China has introduced an action plan to transition digital renminbi from a cash-based system to a deposit currency system, set to be implemented on January 1, 2026, allowing interest to be paid on digital renminbi wallet balances [2][3][4] Group 1: Digital Renminbi Transition - The digital renminbi will shift from being classified as M0 (cash in circulation) to a deposit currency, which will allow it to earn interest, thus enhancing its appeal to users [3][4] - The new framework will enable banks to pay interest on customer digital renminbi wallet balances based on their respective current deposit rates, aligning with market expectations [2][4] - This transition is expected to improve the willingness of individuals and markets to use digital renminbi, as it addresses concerns about inflation and the time value of money [3][4] Group 2: Banking Sector Implications - The adjustment will transform digital renminbi from a direct liability of the central bank to a liability of commercial banks, integrating it into their balance sheets [4][6] - Banks will gain the ability to manage digital renminbi assets and liabilities, shifting their role from cost centers to profit centers, which is anticipated to enhance their motivation to promote digital renminbi [7][6] - The new system will allow for a more efficient management of digital renminbi, leveraging traditional account payment efficiencies while incorporating innovative features like smart contracts [4][6] Group 3: Regulatory Framework - The action plan establishes a "separation of management and operation" principle, creating a management committee to oversee digital renminbi operations and ensure regulatory compliance [11][12] - The plan aims to enhance the regulatory framework for non-bank payment institutions, ensuring consistency in the management of digital renminbi and customer funds [5][12] - Future pilot programs for digital renminbi will shift from geographic trials to scenario-based trials, with an emphasis on expanding operational institutions under controlled risks [12][11] Group 4: Market Impact - The digital renminbi's usage is expected to expand significantly, with transaction volumes projected to reach 34.8 billion by November 2025, amounting to over 16.7 trillion yuan [9] - The digital renminbi's integration into the banking system is anticipated to facilitate its application across various sectors, supporting the broader economy and enhancing consumer spending [12][9] - The transition is also seen as a strategic move to solidify China's position in the global central bank digital currency landscape [9][10]

记者12月29日从中国人民银行获悉，新一代数字人民币计量框架、管理体系、运行机制和生态体系 将于2026年1月1日正式启动实施。数字人民币将从数字现金时代迈入数字存款货币时代。这意味着数字 人民币迎来重大调整。 来源：新华社 在总结十年研发试点经验基础上，中国人民银行出台了《关于进一步加强数字人民币管理服务体系 和相关金融基础设施建设的行动方案》。根据制度安排，客户在商业银行钱包中的数字人民币是以账户 为基础的商业银行负债，标志着数字人民币由现金型1.0版进入存款货币型2.0版。（记者吴雨） ...