中国人民银行 · 904

The People's Bank of China adds 8 new digital yuan business operators

Comparatively, in order to implement the decisions and arrangements of the “15th Five-Year Plan” on “the steady development of digital yuan”, further enhance the inclusiveness of digital yuan services, and continuously respond to the public's demand for safe, convenient and efficient digital yuan services, the People's Bank of China added Ping An Bank, Hang Fung Bank, Bohai Bank, Bank of Shanghai, Bank of Hangzhou, Huishang Bank, Bank of Changsha, and Guangxi Beibu Bay Bank to become bank-type digital yuan business operators and connected to the central bank-side digital yuan system. The new institutions will launch the digital yuan business after completing business and technical preparations. Currently, the number of digital yuan business operators has been expanded to 30. In the next step, the People's Bank of China will promote the expansion of operating institutions in an orderly manner in accordance with the principles of marketization and rule of law, further stimulate the enthusiasm and creativity of market players, and build an open, inclusive, and fair competitive digital yuan development environment.

5d ago

The Central Bank of China clearly proposed the steady development of the digital yuan in the “15th Five-Year Plan”

Comparatively, the People's Bank of China proposed in the “15th Five-Year Plan for Reform and Development of the People's Bank of China” that it is necessary to optimize financial infrastructure and central bank service systems, improve payment, treasury, and cash services, steadily develop the digital yuan, promote high-quality development of the credit reporting industry and strengthen anti-money laundering supervision to support the construction of a strong financial nation and high-quality economic development. Strengthen the governance foundation for the central bank to carry out its duties, and comprehensively promote the construction of a central bank governed by the rule of law and a digital central bank.

12d ago

Central Bank Shanghai Headquarters: Continuously Prevent and Deal with the Risk of Cryptocurrency Trading Hype

Comparatively, the Shanghai headquarters of the People's Bank of China held a working meeting for the second half of 2026, which stated that it is necessary to firmly adhere to the bottom line that systemic financial risks do not occur. Continue to step up the evaluation and verification of banking institutions' ratings. Strengthen the monitoring and analysis of systemically important financial institutions. Continuously prevent and dispose of the risk of virtual currency trading hype. Actively promote agencies under the jurisdiction to regulate online marketing practices for financial products. Continuously improve systemic risk prevention and mitigation mechanisms. Strengthen the fight against illegal financial activities. Continue to improve the macroprudential management mechanism framework. Comprehensively improve the level of monitoring cross-border financial risks.

15d ago

A number of policy meetings have been held, and China continues to implement a moderately loose monetary policy

Comparative news, according to Jin Shi's report, the People's Bank of China held a working meeting in the second half of 2026 and decided to continue implementing a moderately loose monetary policy. The State Administration of Foreign Exchange also held a meeting and stated that it will continue to steadily expand institutional openness in the foreign exchange sector. Furthermore, the China Cotton Association opposes US sanctions and suppression of Chinese cotton textile companies, while the State Grid said that electricity consumption in many places has reached record highs and will take more measures and guarantee electricity supply.

20d ago

Central Bank: Continued resolution of financial risks in key areas, strengthening of bond market supervision

Comparative news, according to Jin Shi's report, the People's Bank of China held a working meeting in the second half of 2026, pointing out that financial risks in key areas continue to be mitigated, and that financial support and financing platforms have achieved remarkable results in mitigating debt risks. The conference emphasized that the financial market is running well, monitor and evaluate the operation of the bond market from a macroprudential perspective, and strengthen bond market supervision and enforcement.

20d ago

The central bank emphasizes deepening financial reform and opening up to the outside world, and supports overseas institutions to participate in the issuance of panda bonds

Comparative news, according to Jin Shi's report, the People's Bank of China held a working meeting in the second half of 2026, which emphasized the steady deepening of financial reform and opening up to the outside world. The conference pointed out that currency swaps and local currency settlement cooperation between central banks will be actively carried out, more overseas institutions will be supported to participate in the issuance of panda bonds, and the construction of a RMB cross-border payment system will be promoted, and the digital yuan cross-border infrastructure will be improved.

20d ago

The central bank continues to implement a moderately loose monetary policy to maintain abundant liquidity

Comparative news, according to Jin Shi's report, the People's Bank of China held a working meeting in the second half of 2026, stating that it will continue to implement a moderately loose monetary policy. The conference emphasized the comprehensive application of various monetary policy tools to maintain abundant liquidity and support the real economy's effective financing needs. At the end of June, the scale of social financing increased by 7.4% year on year, and the broad money supply increased by 8% year on year.

20d ago

The industry expects interest rate cuts in the third quarter, and policy interest rates may be lowered by 10 to 20 basis points

Comparative news, according to a report by Jin Shi, Dong Ximiao, the chief economist of CMB, predicts that interest rate cuts are expected to be implemented in the third quarter. If the momentum for economic recovery weakens marginally in the second half of the year, it is not ruled out that the policy interest rate will be lowered by 10 basis points to 20 basis points in due course. In terms of downgrading, there is still room for a downgrade of 25 basis points to 50 basis points during the year, and the implementation window may be scheduled during periods of peak bond supply or tight liquidity. The People's Bank of China will make more use of structural monetary policy tools to strengthen the regulation of market liquidity...

22d ago

The central bank held a regular monetary policy meeting for the second quarter of 2026, emphasizing continued implementation of moderately loose monetary policies

According to comparative news, the monetary policy committee of the central bank of the People's Bank of China held its regular meeting for the second quarter of 2026 (113rd overall) on July 4. The conference pointed out that monetary policy has remained moderately loose since this year, social financing costs are at historically low levels, and there is a basic balance between supply and demand in the foreign exchange market. Faced with the current complex and changing external environment and challenges such as strong domestic supply and demand, and structural differentiation, China's economy is generally running smoothly and optimally. The conference emphasized that in the next phase, a moderately loose monetary policy will continue to be implemented, countercyclical and cross-cyclical adjustments will be strengthened, coordination and coordination of monetary and fiscal policies will be strengthened, and stable economic growth and a reasonable recovery in prices will be promoted. At the same time, the conference clearly proposed maintaining abundant liquidity to promote the operation of comprehensive social financing at a low cost; evaluating the operation of the bond market from a macroprudential perspective, paying attention to changes in long-term yields; and maintaining the basic stability of the RMB exchange rate at a reasonable equilibrium level. Furthermore, the central bank will continue to optimize various structural monetary policy instruments, solidly prepare the “Five Major Articles” on finance, and increase financial support for key areas such as expanding domestic demand, technological innovation, micro, small and medium-sized enterprises, and the private economy.

45d ago

People's Bank of China: Continue to implement a moderately loose monetary policy and increase countercyclical and cross-cyclical adjustments

Comparatively, the Monetary Policy Committee of the People's Bank of China held a regular meeting for the second quarter of 2026. The conference analyzed the domestic and foreign economic and financial situation, believing that the current external environment is more complex and varied, the momentum of world economic growth is weak, geographical conflicts and economic and trade frictions are frequent, the economic performance of major economies is divided, and there is uncertainty about inflation trends and monetary policy adjustments. China's economy is generally running smoothly and improving, and high-quality development has achieved new results, yet it still faces problems and challenges such as strong supply and demand, structural differentiation, and external shocks. It is necessary to continue to implement a moderately loose monetary policy, increase countercyclical and cross-cycle adjustments, make better use of the total and structural functions of monetary policy instruments, strengthen coordination and coordination of monetary and fiscal policies, and promote steady economic growth and a reasonable recovery in prices.

45d ago