每经记者｜张寿林 每经编辑｜程鹏 张益铭 明天起，数字人民币实名钱包余额将开始计息。 12月31日，中国银行、工商银行、农业银行、建设银行、交通银行、邮储银行六家国有大行相继发布公告称，2026年1月1日起，将为开立在该行的数字人 民币实名钱包余额按照该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。 重要公告 关于数字人民币计付利息的公告 尊敬的客户: 自2026年1月1日起,中国工商银行将为您开立在我行的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。 如您有任何疑问,请拨打我行95588电话客服、数字人民币956196统一容服热线咨询。 感谢您长期以来对我行数字人民币业务的关心和支持! 中国工商银行股份有限公司 2025年12月31日 【关闭窗口】 关于数字人民币计付利息的公告 尊敬的客户: 自2026年1月1日起,中国农业银行将为您开立在我行的数字人民币变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。 如您有任何疑问,请拨打我行95599客服电话,或者数字人民币956196统一客服热线咨询。 感谢您长期以来对我行数字人民币业务的关心和 ...

Investment Rating - The report maintains a stable outlook for the banking industry, indicating a controlled decline in net interest margins and stable asset quality [4][7]. Core Insights - The banking sector in China has shown steady development in the first three quarters of 2025, with stable credit asset quality and sufficient provisions and capital [4][22]. - The People's Bank of China is expected to continue implementing a moderately loose monetary policy, ensuring ample liquidity in the banking system [4][22]. - The report highlights the challenges faced by commercial banks due to a declining net interest margin and the need for active management of asset quality [7][27]. Summary by Sections Industry Data - As of Q3 2025, the non-performing loan (NPL) rate for commercial banks was 1.52%, a slight increase from the previous year, while the ratio of attention loans decreased to 2.20% [9][27]. - The total amount of non-performing loans reached 35,224.78 billion yuan, with a provision coverage ratio of 207.15% [9][28]. - The net profit for commercial banks in the first three quarters of 2025 was 18,702.58 billion yuan, reflecting a 7.19% decrease year-on-year [9][31]. Regulatory Policies - The People's Bank of China has introduced measures to optimize the financial services for the real estate sector, although the market remains sluggish [8][12]. - Ongoing reforms for small and medium-sized banks are aimed at enhancing their risk resistance and operational quality [8][12]. Bond Issuance Statistics - By December 15, 2025, 100 commercial banks issued a total of 227 financial bonds, raising 14,566 billion yuan, a 44.38% increase from the previous year [15][16]. - The issuance of tier-2 capital bonds totaled 8,727.60 billion yuan, while perpetual bonds raised 8,218 billion yuan, indicating a diverse funding strategy among banks [15][17]. Credit Quality and Profitability - The report notes that while the asset quality remains stable, there are pressures from the real estate market and external trade uncertainties that could affect repayment capabilities [7][27]. - The net interest margin for commercial banks was recorded at 1.42% in Q3 2025, with a trend of narrowing expected to slow down [30][31].

Core Viewpoint - The digital renminbi will officially end its "interest-free era" as major state-owned banks announce that starting January 1, 2026, the balance in real-name digital renminbi wallets will earn interest based on the current deposit rate [1][4][5]. Group 1: Digital Renminbi Interest Policy - Six major state-owned banks, including ICBC, ABC, BOC, CCB, Bank of Communications, and Postal Savings Bank, will implement interest payments on digital renminbi wallet balances according to the current deposit rate [1][4]. - The interest payment policy is a result of the People's Bank of China's recent action plan aimed at enhancing the management and service system for digital renminbi [4][5]. - The new interest mechanism marks the transition of digital renminbi from a "digital cash" to a "digital deposit currency" [5][8]. Group 2: Digital Renminbi Overview - Digital renminbi is a legal digital currency issued by the People's Bank of China, applicable in various scenarios such as transportation, dining, shopping, and public services [6]. - The pilot program for digital renminbi has expanded from select cities to entire provinces, with applications in both consumer and governmental sectors [6]. - As of November 2025, digital renminbi has processed 3.48 billion transactions totaling 16.7 trillion yuan, with 230 million personal wallets opened [7]. Group 3: Future Implications of Interest Payments - The introduction of interest payments changes the liability nature of digital renminbi, making it a liability of commercial banks rather than the central bank, thus aligning it more closely with traditional bank deposits [8]. - This shift is expected to enhance the monetary elasticity of digital renminbi, allowing it to support credit activities and deposit expansion mechanisms [8]. - The future digital renminbi will be a modern digital payment and circulation tool, regulated by the central bank and possessing attributes of commercial bank liabilities [8].

Core Viewpoint - The digital renminbi will officially end its "interest-free era" as major state-owned banks announce that starting January 1, 2026, the balance in real-name digital renminbi wallets will earn interest based on the current deposit rate [1][4][10]. Group 1: Digital Renminbi Interest Policy - Six major state-owned banks, including ICBC, ABC, BOC, CCB, BOCOM, and PSBC, will implement interest payments on digital renminbi wallet balances according to the current deposit rate starting January 1, 2026 [1][4]. - The interest will be calculated based on the People's Bank of China's regulations for current deposits, with interest credited quarterly [3][4]. - The introduction of this interest policy is part of the People's Bank of China's action plan to enhance the management and service system for digital renminbi [4][10]. Group 2: Transition to Digital Deposit Currency - The implementation of the interest policy marks the transition of digital renminbi from a "digital cash" model to a "digital deposit currency" model [10]. - Previously, digital renminbi was classified as M0, similar to cash, and did not earn interest, limiting its attractiveness compared to bank deposits [10]. - With the new policy, digital renminbi will be treated as a liability of commercial banks, allowing it to support credit activities and deposit expansion mechanisms, thus enhancing its monetary elasticity [10][11]. Group 3: Current Status and Future Prospects - As of November 2025, digital renminbi has processed 3.48 billion transactions with a total transaction amount of 16.7 trillion yuan [8]. - The digital renminbi is being tested in various scenarios, including daily consumption and government services, and is expanding into cross-border payment initiatives [7][8]. - The future digital renminbi will be a modern digital payment and circulation tool, supported by the central bank and possessing attributes of commercial bank liabilities [10][11].

建设银行指出，自2026年1月1日起，该行数字人民币实名钱包余额将按照该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，并相应修订《中国建设银行数字人民币钱包个人客户服务协议》相关 内容。该行也在公告中介绍到，数字人民币是指中国人民银行发行的法定数字货币和相关支付体系，采 用双层运营架构，由中国人民银行向数字人民币业务运营机构发行，再由数字人民币业务运营机构兑换 给公众。自2026年1月1日起，数字人民币钱包（不含四类钱包）中的钱包余额按照中国人民银行规定的 活期存款计结息规则计付利息，并由乙方依法代扣代缴利息税（如有）。 2026年1月1日起，数字人民币实名钱包余额将开始计付利息。 12月31日，工行、农行、建行、交行、邮储银行等国有银行公布了数字人民币钱包余额计息的规则。 工商银行、农业银行、邮储银行表示，为数字人民币实名钱包余额按照活期存款挂牌利率计付利息，计 结息规则与活期存款一致；交通银行表示，自2026年1月1日起，交通银行将数字人民币实名钱包（包含 一类、二类、三类个人钱包和单位钱包）余额，按照该行公布的活期存款挂牌利率计付利息。如用户开 立的数字人民币钱包为四类个人钱包，则钱包内的余额 ...

Group 1 - From January 1, 2026, digital RMB real-name wallet balances will earn interest based on the current demand deposit rate set by the banks [1] - The current demand deposit rate is 0.05% as per the announcements from major banks [1] - Digital RMB wallets are categorized into four types, with only real-name wallets (Type 1, 2, and 3) eligible for interest, while anonymous wallets (Type 4) do not earn interest [1] Group 2 - There are currently 10 designated operating institutions for digital RMB, including six state-owned commercial banks, two joint-stock commercial banks, and two internet banks [2] - The People's Bank of China is working on expanding the number of operating institutions for digital RMB [2] - A new action plan has been issued by the central bank to enhance the management service system and financial infrastructure for digital RMB, set to be implemented on January 1, 2026 [2]

Core Viewpoint - Several major banks in China, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank, announced that starting January 1, 2026, they will pay interest on the balances of digital RMB real-name wallets at the same rate as current deposit rates, with interest calculation rules consistent with those for current deposits [1] Group 1 - The announcement involves multiple major banks in China [1] - Digital RMB real-name wallets will earn interest starting from January 1, 2026 [1] - Interest will be calculated according to the current deposit rate [1]

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 demand deposits from January 1, 2026, marking a significant shift in the digital currency landscape [1][2] - 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, transitioning digital RMB from a "digital cash era" to a "digital deposit currency era" [1][4] - The definition of digital RMB has been updated to include the payment system and clarify the dual-layer operational structure, where the central bank issues digital RMB to operating institutions, which then exchange it with the public [3][4] Group 2 - The new digital RMB will have characteristics of commercial bank liabilities, transitioning from being a direct liability of the central bank to a liability of commercial banks, thus allowing wallet balances to earn interest and be covered by deposit insurance [4][5] - The action plan optimizes the dual-layer operational structure, assigning responsibilities to the central bank for rule-making and infrastructure, while commercial banks will manage customer wallets and ensure compliance, thus transforming their role from cost centers to profit centers [5][6] - The action plan integrates digital RMB into the traditional monetary control system, allowing bank-operated digital RMB to be included in the reserve requirement framework, which will enhance liquidity in the banking system [6][7] Group 3 - As of November 2025, the digital RMB pilot has processed 3.48 billion transactions with a total value exceeding 16.7 trillion yuan, indicating strong adoption and usage [7]

Core Viewpoint - Starting from January 1, 2026, interest will be paid on the balances of real-name digital RMB wallets, as announced by six major state-owned commercial banks in China [1][3]. Group 1: Interest Payment Arrangement - Customers with real-name digital RMB wallets at the specified banks will receive interest based on the banks' published demand deposit rates, with interest calculation rules consistent with traditional demand deposits [3]. - For example, Industrial and Commercial Bank of China (ICBC) will settle interest quarterly, with the interest credited on the 21st of each quarter's last month [3]. - The interest payment arrangement applies only to real-name wallets, while anonymous wallets will not earn interest [3]. Group 2: Regulatory Framework - This adjustment is part of the People's Bank of China's recent action plan aimed at enhancing the management and service system for digital RMB, which will officially launch on January 1, 2026 [3]. - The plan stipulates that banks must pay interest on real-name digital RMB wallet balances and adhere to self-discipline agreements on deposit interest rate pricing [3]. Group 3: Transition to Deposit Currency - The new system marks a transition of digital RMB from a cash-like version 1.0 to a deposit currency version 2.0, allowing banks to manage digital RMB wallet balances as liabilities [4]. - Digital RMB wallets will be insured similarly to traditional deposits, providing customers with equivalent safety guarantees [4]. - Currently, there are ten designated operating institutions for digital RMB, including the six major state-owned banks and several other commercial and internet banks [4].

中国邮政储蓄银行研究员娄飞鹏介绍，四类钱包是数字人民币个人非实名钱包，仅需手机号验证开通， 不绑定银行卡，属匿名性质，多用于小额匿名支付场景。实名钱包（一、二、三类）则需不同程度身份 核验。相关公告限定，凸显了对实名制与金融安全的强化要求。娄飞鹏提示，对消费者而言，需要确定 钱包类型，了解计息规则，注意钱包限额与资金安全。 今天，工商银行、农业银行、建设银行、交通银行、邮储银行发布公告，自2026年1月1日起，将为数字 人民币实名钱包余额按照活期存款挂牌利率计付利息，计结息规则与活期存款一致。 本文转自【央视财经】； 此外，建设银行公告不含四类钱包；交通银行发布的公告称，如客户开立的数字人民币钱包为四类个人 钱包，则钱包内的余额不计付利息。 ...