从“兜里的现金”变为“银行存款” 明年起数币钱包中的余额将计付利息

Core Viewpoint - The People's Bank of China has announced that starting next year, digital yuan wallet balances will earn interest, marking a significant shift in its underlying logic and positioning [1][2]. Group 1: Changes in Digital Yuan Management - The new action plan states that digital yuan wallet balances will be included in the reserve requirement framework, and non-bank payment institutions will be required to maintain a 100% reserve for digital yuan [1][7]. - Digital yuan is expected to be treated similarly to current demand deposits in commercial banks, which typically have an interest rate of 0.05% [2][3]. Group 2: Implications for Financial Institutions - The transition of digital yuan from "cash in hand" to "bank liabilities" will provide banks with a low-cost source of funding, optimizing their liability structure [2][4]. - This change is anticipated to enhance the motivation of banks to promote and utilize digital yuan, as it can now be integrated into their asset-liability management [6][7]. Group 3: Potential Applications and Growth - The digital yuan's new status is expected to lead to an explosion in its applications, particularly in areas like supply chain finance and cross-border payments, leveraging its smart contract capabilities [7][8]. - The digital yuan is projected to evolve into a comprehensive financial tool, integrating deeper into the economic cycle from personal savings to corporate credit [8]. Group 4: Market Impact and Future Outlook - The shift to bank liabilities is seen as a solution to the "financial disintermediation" challenge, ensuring that currency creation and circulation remain within the financial system [4][5]. - The digital yuan's development is expected to follow a "dual circulation" path, enhancing its role in both domestic and international financial systems [8].