Zhong Guo Zheng Quan Bao·2025-12-31 12:28Core Viewpoint - The announcement by six major banks in China regarding interest payments on digital RMB wallet balances marks a significant transition from "digital cash (M0)" to "digital deposit currency," indicating a shift in the nature of liabilities from the central bank to commercial banks [1][2] Group 1: Announcement Details - Starting from January 1, 2026, the six major banks will pay interest on the balances of real-name digital RMB wallets at the rate of the current deposit interest rate [1] - The current deposit interest rate for the Bank of Communications is set at 0.05% [1] - Balances in type four personal wallets will not earn interest, and specific interest rate standards can be checked through the bank's official website, mobile banking app, or physical branches [1] Group 2: Implications and Effects - This move enhances user willingness to hold digital RMB, promoting its adoption and dissemination [2] - It incorporates banking institutions into the reserve requirement framework, improving monetary statistics and macroeconomic regulation [2] - Establishing this mechanism is a crucial step towards the maturity of digital RMB, maintaining a dual-layer operational structure while achieving functional upgrades [2]