数字人民币迎来2.0版

Core Insights - The People's Bank of China will officially implement a new digital RMB measurement framework, management system, operational mechanism, and ecosystem starting January 1, 2026, marking a significant transition from digital cash to digital deposit currency [1][2] Group 1: Digital RMB Development - The new action plan allows banks to pay interest on customer-held digital RMB wallet balances, enhancing the appeal of digital RMB for users [1][2] - As of November 2025, digital RMB has processed 3.48 billion transactions, amounting to 16.7 trillion yuan, with 230 million personal wallets opened [1] Group 2: Institutional Changes - The digital RMB will transition from a cash-based model to a deposit currency model, with wallets classified as bank liabilities, thus incentivizing banks to promote digital RMB [2][3] - The action plan integrates digital RMB into the reserve requirement framework, ensuring its safety and stability, which is expected to encourage more merchants to accept digital RMB [2][3] Group 3: Ecosystem and Market Impact - The new framework is designed to create a win-win situation for users, banks, and non-bank payment institutions, promoting deeper integration of digital RMB into the existing payment system [4] - The establishment of a standardized operational framework for digital RMB is expected to provide clarity for banks and payment institutions, facilitating commercial implementation [4]