The gameplay of Digital RMB is being upgraded. Previously, it was simply a tool to replace cash, but now it is gradually becoming an official deposit tool for commercial banks—accounts can accrue interest and meet reserve requirements, essentially equivalent to general deposits.

This transformation may seem simple, but its implications are significant. For banks, the liability side will become more stable because Digital RMB is officially incorporated into the liability system of commercial banks. At the same time, it also strengthens the transmission of monetary policy under the reserve and interest rate framework, making policy tools more effective. Most importantly, the motivation for banks to promote Digital RMB has greatly increased—after all, it directly relates to their bottom line.

From an industry perspective, Digital RMB has the potential to become a key tool for linking corporate and retail businesses. In payments, it can also create competitive pressure on third-party payment platforms.

The future development direction is for banks to shift from merely qualifying to enhancing capabilities. The focus is not on copying but on transitioning from account operations to more professional, scenario-based services. Those who can seize the window of rising Digital RMB penetration will gain an advantage in this wave of industry transformation.