digihuman(BJ:835670) Sou Hu Cai Jing·2025-12-30 00:55Core Viewpoint - The new generation of digital RMB will officially launch on January 1, 2024, transitioning from a cash-based system to a deposit currency system, allowing for interest payments on digital RMB balances held in banks [1][4]. Group 1: Transition to Deposit Currency - The People's Bank of China has introduced a plan to enhance the management and service system for digital RMB, marking a shift from digital cash to digital deposit currency [1][2]. - This transition will significantly improve the liquidity of digital RMB within the banking system, as it allows for interest accrual on digital RMB held in bank accounts [2][4]. Group 2: Operational Changes - Digital RMB will now be classified as a liability of commercial banks rather than the central bank, indicating a major upgrade from version 1.0 to version 2.0 [3][4]. - Commercial banks will be responsible for the operation, security, and reliability of digital RMB, which will incentivize them to offer more financial services related to digital RMB [4][6]. Group 3: User Experience and Security - The user experience for payments will remain largely unchanged, but the ability to earn interest on digital RMB deposits will be a significant enhancement [5]. - Digital RMB will be supported by the central bank's technology and regulatory oversight, with commercial banks responsible for customer security and compliance, including deposit insurance coverage up to 500,000 RMB [6][7]. Group 4: Implementation and Impact - Since its inception in 2014, the digital RMB has seen successful trials across various sectors, with significant transaction volumes reported, including 34.8 billion transactions totaling 16.7 trillion RMB by November 2025 [7]. - The dual-layer operational system of "central bank-commercial institutions" aims to steadily advance the integration of digital cash and electronic payments into a robust digital currency framework [7].