Recently, the People's Bank of China unveiled the 'Action Plan for Further Enhancing the Management and Service System of Digital RMB, along with the Development of Associated Financial Infrastructure.' This plan explicitly states that the new-generation measurement framework, management system, operational mechanism, and ecosystem for Digital RMB will be formally put into effect on January 1, 2026.

As outlined in the plan, the liability entity for Digital RMB will transition from the central bank to commercial banks. This move signifies an upgrade from the cash-based 1.0 iteration to a deposit-money-based 2.0 version. Such a transformation is poised to exert a substantial influence on both commercial banks and individual investors.

For commercial banks, integrating Digital RMB into balance sheet management empowers them to autonomously carry out balance sheet operations. This autonomy not only bolsters their business momentum but also facilitates the establishment of a holistic 'payment + finance' ecosystem.

For individual investors, the funds stored in Digital RMB wallets will start to accrue interest. This change is expected to heighten their inclination to hold the currency. Moreover, the convenience of payments will see a marked improvement, with interbank transfers and cross-border transactions becoming significantly smoother.

Furthermore, the carriers of Digital RMB, namely digital wallets and applications, are anticipated to gradually expand their functionalities and application scenarios in the future. This expansion will further entice people to hold and utilize Digital RMB.