陈琛,池宏,张萍,梁一雷.金融科技驱动货币体系升级：数字人民币的路径探索与实践启示[J].中国科学院院刊,2026,41(2):333-341.

金融科技驱动货币体系升级：数字人民币的路径探索与实践启示

Monetary system upgrade driven by financial technology: Path exploration and practical insights based on e-CNY

陈琛¹
中国科学院科技战略咨询研究院 北京 100190
CHEN Chen¹
Institutes of Science and Development, Chinese Academy of Sciences, Beijing 100190, China
池宏¹
中国科学院科技战略咨询研究院 北京 100190
CHI Hong¹
Institutes of Science and Development, Chinese Academy of Sciences, Beijing 100190, China
张萍^2*
首都经济贸易大学 金融学院 北京 100071
ZHANG Ping^2*
School of Finance, Capital University of Economics and Business, Beijing 100071, China
梁一雷³
国家开发银行 北京 100031
LIANG Yilei³
China Development Bank, Beijing 100031, China

         金融科技;数字人民币;央行数字货币;终极避险资产;金融基础设施;跨境支付

        financial technology(fintech);electronic Chinese yuan(e-CNY);central bank digital currency(CBDC);safe haven asset;financial infrastructure;cross-border payment

        金融科技是重塑国家金融竞争力的关键变量，推动货币体系数字化升级则是建设金融强国的核心任务。作为货币体系中的关键一环，数字人民币基于其金融科技属性成为货币体系向更高形态演进的重要实践。当前，传统货币体系面临跨境支付效率低风险高、货币政策传导结构性衰减与数字化终极避险资产缺位等3个方面困境。文章从数字人民币的试点实践入手，系统性分析了其借助中心化-分布式（DLT）混合架构、可编程、账户-Token混合设计等金融科技特性破解现有困局的解决方案，从而得出数字人民币的战略定位和发展路径。最后，文章为数字人民币的高质量、可持续发展提出建议。

        Financial technology(fintech) is a key variable reshaping national financial competitiveness, and promoting the digital upgrade of the monetary system is a core task in building a financially strong nation. As a pivotal component of the monetary system, the electronic Chinese yuan(e-CNY), based on its inherent fintech attributes, serves as a critical practice for driving the monetary system towards a more advanced stage of evolution. Currently, the traditional monetary system faces three major challenges: low efficiency and high risks in cross-border payments, structural attenuation in monetary policy transmission, and a lack of digital safehaven assets. Starting from the pilot practices of the e-CNY, this paper analyses its three core fintech characteristics—the centralizeddistributed hybrid architecture, programmability, and account-Token hybrid design—and elaborates on the solutions it provides to address the aforementioned challenges. This study systematically establishes the strategic positioning and development path of the eCNY. Finally, it proposes recommendations for the high-quality and sustainable development of the e-CNY.