digihuman(BJ:835670) Sou Hu Cai Jing·2025-12-30 22:40Core Viewpoint - 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 interest-bearing digital deposits [2][3]. Group 1: Digital RMB Implementation - The new action plan allows banks to pay interest on customer real-name digital RMB wallet balances, indicating a shift to a deposit currency model [2][3]. - As of November 2025, digital RMB has processed 3.48 billion transactions with a total transaction amount of 16.7 trillion yuan, demonstrating its growing adoption across various sectors [2]. Group 2: Changes in Banking Operations - The digital RMB wallet balances will be classified based on liquidity, transitioning from a cash-based model to a deposit-based model, enhancing the incentive for users to hold digital RMB [3][4]. - The inclusion of digital RMB in the reserve requirement framework for banks will ensure its safety and stability, encouraging banks to promote digital RMB usage [3][4]. Group 3: Impact on Financial Ecosystem - The upgrade in the core positioning of digital RMB is expected to motivate commercial banks to engage more actively in the digital RMB ecosystem, reversing the previous lack of incentive for banks [4][5]. - The new regulations will allow banks to develop more deposit, wealth management, and credit products around interest-bearing digital wallets, fostering a comprehensive "payment + finance" ecosystem [5].