digihuman(BJ:835670) Sou Hu Cai Jing·2025-12-30 03:42Core 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]