央行新规正式实施 “现金”变“存款” 数字人民币迈入2.0时代

Core Viewpoint - The People's Bank of China has launched the "Action Plan" to enhance the management and service system of the digital renminbi, marking the transition to the 2.0 era of digital currency, which includes a new measurement framework, management system, operational mechanism, and ecosystem [1] Group 1: Application Scenarios - The Action Plan indicates a shift from digital cash to digital deposit currency, allowing digital renminbi to function as a modern payment and circulation method with attributes of commercial bank liabilities [2] - Digital renminbi will now earn interest as it is treated as a deposit, enhancing benefits for both individuals and enterprises [3] - The digital renminbi has achieved full-scenario currency capabilities across various sectors, including retail, education, and cross-border payments, creating replicable and scalable application models [3] Group 2: Dual-Layer Architecture Optimization - The Action Plan optimizes the dual-layer operational system, where the central bank sets rules and standards while commercial banks manage customer wallets and ensure compliance [4] - The upgrade of the dual-layer architecture is expected to increase commercial banks' enthusiasm for promoting digital renminbi, as it aligns responsibilities and benefits [5] - Digital renminbi will be included in the reserve requirement framework, allowing banks to manage it as a liability, thus enhancing financial stability and security [5] Group 3: Technological Advantages - China's approach to digital renminbi combines account-based management with blockchain efficiency, aiming for lower costs and higher efficiency in digital payments [6][7] - The establishment of an international operational center for digital renminbi in Shanghai aims to enhance cross-border payment efficiency using blockchain technology [7] - The multi-central bank digital currency bridge has processed 4,047 cross-border payment transactions, with digital renminbi accounting for approximately 95.3% of the transaction volume, indicating its growing role in international trade [8]