PBOC Unveils 2026 Digital Yuan Roadmap with Interest-Bearing Wallets
China's central bank will implement a comprehensive digital yuan framework by January 2026, Deputy Governor Lu Lei announced. The three-year action plan establishes technical standards and a two-tier operating system developed through a decade of pilot testing.
Commercial banks will be required to pay interest on digital yuan wallet balances, marking a significant evolution from current CBDC designs. The currency will function as a monetary base with cross-border payment capabilities, though technical oversight remains exclusively with the PBOC.
The initiative builds on China's early mover advantage in CBDC development, with the 2016 prototype now serving as a global reference model. International institutions have reportedly adopted China's two-tier architecture as a template for sovereign digital currencies.
