CITIC Securities' research report highlights that the Digital RMB is evolving from its initial "central bank liability-based" 1.0 stage, where it primarily serves as a cash substitute, to a more advanced "deposit currency-based" 2.0 stage. This new phase integrates the commercial bank liability system, allowing Digital RMB accounts to accrue interest and be subject to reserve requirements, thereby effectively transforming them into general deposits. This institutional shift not only bolsters the stability of bank liabilities but also enhances the efficiency of monetary policy transmission within the framework of reserve requirements and interest rates. Consequently, it significantly boosts commercial banks' motivation to promote the Digital RMB. From an industry standpoint, the Digital RMB is poised to become a pivotal tool bridging corporate and retail banking sectors, potentially replacing some third-party platforms in payment processes. Looking ahead, it is expected that banks will pivot their focus in the Digital RMB business from merely acquiring qualifications to enhancing their operational capabilities. To capitalize on the growing penetration of the Digital RMB, banks need to expedite their transition from traditional account management to scenario-based and specialized services.