China's Digital RMB to Introduce Interest and Partial Reserves from January 2026

From January 1, 2026, China's digital RMB will shift to an interest-bearing model with partial reserve management, as outlined in new regulations. Bank-operated institutions will move digital RMB balances onto their balance sheets, allowing interest payments and extending deposit insurance protection. These changes mark a notable adjustment in asset-liability management and bring the e-CNY closer to traditional banking products.