Core Viewpoint - The People's Bank of China has introduced an action plan to enhance the management and service system of digital renminbi, transitioning from a cash-based model to a deposit currency model by January 1, 2026 [1] Group 1: Digital Renminbi Framework - A new measurement framework, management system, operational mechanism, and ecosystem for digital renminbi will be implemented [1] - Digital renminbi will evolve from a cash-type version 1.0 to a deposit currency-type version 2.0 [1] Group 2: Banking Institutions and Digital Wallets - Customers' digital renminbi in commercial bank wallets will be treated as bank liabilities based on accounts [1] - Banks will pay interest on the balance of customers' real-name digital renminbi wallets, adhering to self-discipline agreements on deposit interest rates [1] - Banks can independently manage asset and liability operations for digital renminbi wallet balances, with deposit insurance providing equivalent safety guarantees [1] Group 3: Non-Bank Payment Institutions - The digital renminbi margin for non-bank payment institutions will be treated similarly to customer reserve funds [1]