Digital RMB 2.0 and the Transformation of the Real Economy: A Case Study of Agricultural Bank of China (OpenAlex (recherche mondiale))
Summary
- On December 31, 2025, six major state-owned banks announced interest payments on real-name digital yuan wallets at demand deposit rates, establishing the Version 2.0 era effective January 1, 2026.p.1
- By 2019, Ant Financial held more than half of the third-party mobile payment market share, while traditional banks accounted for less than 10% in total.p.2
- Digital currency in circulation initially totaled 16.5 billion yuan, representing approximately 0.16% of M0.p.4
- By the end of 2025, Agricultural Bank of China's Huinong e-Loan outstanding balance exceeded RMB 2.1 trillion, representing a 40% increase over 2024 and serving over 10 million farming households.p.4
- Agricultural Bank of China's Shenzhen Branch completed a RMB 200 million cross-border soybean import transaction and a single RMB 68 million trade settlement using mBridge.p.5
- As of November 2025, the mBridge platform had processed a cumulative total of 4,047 cross-border payment transactions valued at an equivalent of RMB 387.2 billion.p.5
Key insights
- The transition to Digital RMB 2.0 shifts wallet balances to commercial bank liabilities, enabling operating institutions to pay interest and utilize funds for lending.p.3
- Agricultural Bank of China maintained 22,900 outlets as of year-end 2024, with county-level outlets comprising 56.6% of the network.p.4
- The Yuan Guanjia platform supervises over RMB 1.5 billion in prepaid funds across thousands of merchants with zero absconding incidents recorded.p.4
- Huinong e-Loan offers customized agricultural financing up to a maximum credit line of 500,000 yuan per household with annualized interest rates starting at 3.0%.p.4
- Cross-border payment settlements using mBridge compress execution cycles from 1–3 days to mere seconds or minutes.p.6
- Agricultural Bank of China's county-level coverage rate for inclusive electronic accounts grew from 78.2% in 2019 to 96.8% in 2024.p.6
Pages
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p.9Topics and entities
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