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According to local media reports, the People’s Bank of China (PBOC) announced a new action plan to govern the digital yuan, setting January 1, 2026 as the date to start implementing the updated framework, which includes governance, operating models and support systems.
The digital yuan is the digital currency of China’s central bank and is designed to be used for payments to individuals and institutions.
As of November 2025, the system has completed approximately 3.5 billion transactions, with significant expansion in cross-border use through the multi-CBD mBridge platform, which supports instant international settlement using distributed ledger technology.
Lu Li, deputy governor of the People’s Bank of China, said the plan represents the formal transition of the digital renminbi from digital cash to digital deposits, strengthening its integration with the financial system while maintaining central bank supervision and commercial bank responsibilities.
The plan provides for updating the measurement framework, incorporating digital renminbi balances into deposit reserves, implementing full margin requirements for non-bank payment companies, and classifying investment portfolios based on liquidity levels, thereby establishing the digital renminbi as an obligation for commercial banks and completing the transition to the so-called “digital renminbi 2.0”.
The new technical architecture also relies on integrating accounts, token chains and smart contracts, while developing wallets into digital accounts, increasing the automation of issuance and settlement, and enhancing the smart contract platform and open source environment.
Against this backdrop, the People’s Bank of China will establish a committee to manage the digital yuan, in addition to operating two independent onshore and cross-border system centers, with security, continuity and regulatory coordination as key priorities.
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