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According to Gate market data, the offshore RMB against the US dollar has broken through the 6.9 mark, reaching a new high since April 2023, with a peak of 6.8953, an intraday increase of about 100 points.

According to Jinshi News, the onshore RMB has risen above the 6.93 mark against the US dollar.

According to Jinshi reports, the offshore RMB against the US dollar broke the 6.96 mark on Monday.

The Vice President of the Beijing Academy of Social Sciences and Executive Director of the China Finance Society, Fan Wenzhong, wrote an article in the Hong Kong Wen Wei Po titled "Steadily Promoting the Coordinated Innovation of Digital Renminbi and Hong Kong Stablecoins," in which he pointed out: Currently, the cross-border use of digital renminbi mainly relies on the internal regulations and pilot policies of the People's Bank of China, lacking clear legal authorization. It is suggested to add provisions in the revision of the "People's Bank of China Law" to clarify the cross-border payment functions of digital renminbi and the legality of its interconnection with compliant overseas digital currency systems, while striving to clarify the "special regulatory requirements and preferential policies for stablecoin issuing institutions that exchange with the mainland central bank's digital currency" in the implementation rules of Hong Kong's "Stablecoin Ordinance," forming a synergistic institutional force.

According to the Hong Kong Wen Wei Po, Fan Wenzhong, Vice President of the Chinese Academy of Social Sciences in Beijing and Executive Director of the China Finance Society, wrote an article titled "Steadily Promoting the Coordinated Innovation of Digital Renminbi and Hong Kong Stablecoins," in which he pointed out: Central Bank Digital Currencies (CBDCs), represented by the digital renminbi (e-CNY), and new payment tools represented by compliant stablecoins from Hong Kong are reshaping the new paradigm of cross-border payments through different paths.Through the coordination of digital renminbi and Hong Kong stablecoins, the cross-border coverage of digital renminbi can be rapidly expanded, enhancing the stickiness of the renminbi in real trade and promoting the internationalization of the renminbi; strengthening Hong Kong's status as an international financial center and creating the world's first "CBDC + compliant stablecoin" integration hub. The cross-border payment solution for the dual currency does not pursue complete unification of the underlying ledgers of digital renminbi and stablecoins, but instead achieves secure exchange and circulation of both at the value level by establishing regulated and standardized interaction interfaces.

On the first trading day of 2026, the RMB against the USD continued its appreciation trend. Today, the RMB against the USD reached a maximum of 6.977 during the trading session, once again hitting a new high since mid-May 2023. At 16:30, the closing price of the RMB against the USD was reported at 6.9806, an increase of 84 basis points from the previous trading day, marking a new high since May 17, 2023.Wen Bin, chief economist of China Minsheng Bank, expects that in January, supported by seasonal demand for foreign exchange settlement, the RMB may still have room for appreciation. However, the RMB against the USD midpoint has deviated towards depreciation compared to the closing price of the spot exchange rate, which may indicate a certain pro-cyclical behavior in the foreign exchange market recently.Overall, under the policy tone of regulatory authorities to maintain the RMB exchange rate basically stable at a reasonable and balanced level and to prevent excessive fluctuations in the exchange rate, although the RMB exchange rate may still operate on the strong side in January, it is expected that there will not be a significant appreciation, and it may fluctuate bidirectionally in the range of 6.9-7 for most of the time, Wen Bin pointed out.

According to a report by 21 Finance, under the guidance of the People's Bank of China, MyBank has completed its first digital RMB scan payment at a merchant in Laos by connecting to the cross-border digital payment platform of the Digital RMB International Operation Center.This marks the latest progress in the bilateral cross-border digital payment cooperation project between the central banks of China and Laos. The opening of this pathway signifies that the digital RMB has achieved "internal use for external purposes" for the first time, providing a new payment method for Chinese residents spending abroad, and is another reflection of the deepening cooperation in digital currencies between the central banks of China and Laos.

"# The Differences Between Digital Renminbi and WeChat/Alipay" topped Baidu's trending search list.According to Baidu's trending search analysis, starting from January 1st, the balance in the digital renminbi wallet will earn interest like a demand deposit. The interpretation of the differences between digital renminbi and WeChat/Alipay is: digital renminbi is money, equivalent to directly paying merchants with a form of electronic cash; WeChat and Alipay are wallets, where money is taken from the wallet to pay merchants.

The Bank of China today issued a notice titled "Announcement on Interest Payment for Digital Renminbi": "Starting from January 1, 2026, the Bank of China will pay interest on the balance of users' real-name digital renminbi wallets opened with our bank at the bank's current deposit listed interest rate, with interest calculation rules consistent with those of current deposits."

According to Jinshi News, a research report from CITIC Securities indicates that the digital renminbi is upgrading from the "central bank liability type" 1.0, which replaces cash, to the "deposit currency type" 2.0, which is incorporated into the commercial bank liability system. Its accounts can earn interest and require reserves, effectively becoming general deposits. This institutional adjustment helps solidify the stability of bank liabilities and enhances the efficiency of monetary policy transmission under the reserve and interest rate framework, while significantly increasing the intrinsic incentives for commercial banks to promote the digital renminbi.From an industry perspective, the digital renminbi is expected to become an important tool for linking corporate and retail sectors, and to form a certain replacement for third-party platforms in the payment process. It is anticipated that the focus of banks' digital renminbi business development will shift from qualification to capability, and banks need to accelerate the transition from account operations to scenario-based specialized services, seizing the opportunity to increase the penetration rate of the digital renminbi.

According to the Financial Times, Lu Lei, the deputy governor of the People's Bank of China, stated that within the "dual-layered architecture," the "Action Plan for Further Strengthening the Management and Service System of Digital Renminbi and Related Financial Infrastructure Construction" specifies: banking institutions will pay interest on customers' real-name digital renminbi wallet balances, adhering to self-discipline agreements on deposit interest rate pricing. This arrangement is based on the principle that substance prevails over form, and has initially formed a compatible incentive arrangement.As a result, banks can independently conduct asset-liability management for digital renminbi wallet balances, with deposit insurance providing legal security comparable to that of deposits. For non-bank payment institutions, there is no difference between the digital renminbi margin and the customer reserve funds of non-bank payment institutions.Previously, it was reported that the People's Bank of China will issue the "Action Plan for Further Strengthening the Management and Service System of Digital Renminbi and Related Financial Infrastructure Construction," with the new generation of digital renminbi measurement framework, management system, operational mechanism, and ecological system set to officially launch on January 1, 2026.

According to Xinhua Finance, under the joint guidance of the Digital Currency Research Institute of the People's Bank of China and the Monetary Authority of Singapore, the Industrial and Commercial Bank of China (ICBC) Singapore Branch, with the support of its head office, has actively implemented the results of the digital renminbi cooperation announced by the China-Singapore Bilateral Cooperation Joint Committee (JCBC) this year, and recently successfully launched an innovative pilot for overseas top-ups of digital renminbi personal wallets.Singaporean tourists only need to register a wallet on the digital renminbi client, and they can complete digital renminbi top-ups through the personal mobile banking of ICBC Singapore Branch using accounts opened at ICBC Singapore Branch, enabling convenient payments for transportation, tourism shopping, dining, and accommodation within China.

The article from the Science and Technology Daily titled "The Acceleration of Digital Renminbi Applications: Beware of These Fraud Traps" reveals that Liu Xiaochun, director of the Shanghai Financial Digitalization Research Center, disclosed that some criminals are using instant messaging tools and other channels to spread information about purchasing digital renminbi wallets, lured by substantial returns. They then use the acquired digital renminbi wallets to carry out telecom fraud, money laundering, and other illegal activities. There are also criminals designing fake activity pages to extract personal information and steal funds.Dong Ximiao, deputy director of the Shanghai Financial and Development Laboratory, pointed out that preventing digital renminbi fraud hinges on recognizing its ordinary nature as legal tender, eliminating all notions of quick money-making, and protecting wallet passwords and verification codes just as one would protect physical cash.

According to an analysis by CoinDesk Japan, the Chinese yuan has recently appreciated to 7.043 yuan per dollar, reaching a new high since October. The increase this quarter is about 1%, rising 4% from the low in April. Analysts believe that the appreciation of the yuan may indirectly benefit Bitcoin through macroeconomic factors and the foreign exchange market.The strengthening of the yuan may prompt China to implement economic stimulus policies, alleviating inflationary pressures while pushing the dollar index lower. A weaker dollar typically increases the demand for dollar-denominated assets like Bitcoin. In the coming weeks, whether the appreciation of the yuan and its related policies can support Bitcoin will become a focal point for the market.

According to the official WeChat account of the Shanghai headquarters of the People's Bank of China, recent illegal activities have been reported where criminals impersonate "digital yuan promotion" and "recruiting promoters" to lure the public into group chats and conduct "exams" and "courses" for brainwashing, implementing pyramid scheme fraud. The central bank reiterated that there is no speculation space for digital yuan, no commission subsidies exist, and no promoter exams have been set up.The public should be vigilant against inducements such as "high returns" and "referring others," avoid clicking on unknown links, and refrain from joining unfamiliar groups to prevent financial losses. If fraud is encountered, it should be reported to the police immediately.

According to market data, the price of USDT against the Chinese Yuan on Binance has fallen below 7, currently reported at 6.99. In addition, the price of USDC against the Chinese Yuan is currently only 6.96.ChainCatcher previously reported that the People's Bank of China held a coordination meeting on November 28 to combat speculation in virtual currency trading (hereinafter referred to as the 1128 meeting) in conjunction with more than ten departments. Lawyer Xiao Za interpreted that, overall, the 1128 meeting is a reiteration of old themes, and what really needs to be regulated this time is the illegal foreign exchange activities using stablecoins, which severely disrupt financial order.

According to market news, recently, Huaxia Bank led the book-building process and successfully issued 4.5 billion yuan in financial bonds with an industry-first "blockchain book-building + digital RMB collection" innovative model.The entire issuance process information is recorded on the blockchain in real-time and is tamper-proof, allowing investors to check at any time. The raised funds are directly collected through digital RMB, eliminating multiple intermediate clearing links. The issuer of this bond is Huaxia Financial Leasing Co., Ltd., a subsidiary of Huaxia Bank. The initial plan for this bond issuance was to issue 3 billion yuan, with a simultaneous setting of 1.5 billion yuan in over-allotment rights, ultimately triggering the over-allotment in full, concluding at the full amount of 4.5 billion yuan, with a 3-year coupon rate locked at 1.84%.

According to Jinshi reports, today the RMB exchange rate refreshed its highest level in over a year, with both onshore and offshore RMB against the US dollar recovering the 7.09 mark. Industry insiders believe that the upward space for the US dollar index is limited, and the RMB trend will remain stable and slightly strong, with seasonal settlement demand in the fourth quarter providing important support for the RMB. Wang Qing, chief macro analyst at Dongfang Jincheng, stated that as the Federal Reserve may continue to cut interest rates, the upward space for the US dollar index is limited, and it is expected that the RMB will be in a slightly strong operating state in the short term.