数字人民币跟踪：数字人民币迈入存款货币2.0新时代

Group 1: Digital Currency Transition - The digital renminbi is transitioning from a "digital cash" identity to a "deposit currency" status, marking the start of its 2.0 era[1] - The People's Bank of China (PBOC) will officially launch the new digital renminbi framework on January 1, 2026, enhancing its role as a deposit currency[7] - As of November 2025, the total transaction volume of digital renminbi reached 16.7 trillion yuan, with over 230 million personal wallets opened[8] Group 2: System Innovations - The new framework introduces interest payments and deposit insurance, bridging the gap between digital currency and traditional deposits[11] - Digital renminbi wallets will now earn interest, aligning them with traditional deposit security measures, thus enhancing user retention[11] - Non-bank payment institutions are required to maintain a 100% reserve requirement for digital renminbi, ensuring financial stability[12] Group 3: Cross-Border Settlement - The digital renminbi has achieved a dominant position in the mBridge project, accounting for 95.3% of transactions, enhancing its role in cross-border payments[15] - The new system significantly reduces the complexity and costs associated with traditional cross-border settlement methods, improving efficiency[16] - The integration of digital renminbi into the banking system allows for real-time value exchange, bypassing high fees and delays associated with traditional methods[16] Group 4: Risk Considerations - There are risks related to policy execution discrepancies among commercial banks, which could disrupt market competition[18] - The transition to deposit currency raises challenges for auditing and regulatory oversight of large-scale transactions[19]