Mars Finance News: According to Golden Ten reports, the People’s Bank of China’s 2026 work conference will be held on January 5-6. The conference emphasizes continuing to implement a moderately loose monetary policy, leveraging the combined effect of incremental and stock policies, strengthening countercyclical and cross-cyclical adjustment efforts, enhancing the quality and efficiency of financial services to support high-quality economic development, deepening financial reform and higher-level opening up, strengthening the forward-looking, targeted, and coordinated nature of macroeconomic policies, focusing on expanding domestic demand and optimizing supply, preventing and defusing risks and stabilizing social expectations, creating a favorable monetary and financial environment for steady economic growth, high-quality development, and stable operation of financial markets, and providing strong financial support for achieving a good start to the “15th Five-Year Plan.”
Additionally, the conference emphasizes treating the promotion of high-quality economic development and reasonable price recovery as important considerations of monetary policy, flexibly and efficiently employing multiple monetary policy tools such as reserve requirement ratio cuts and interest rate cuts, maintaining ample liquidity, keeping social financing conditions relatively loose, guiding reasonable growth of total financial volume and balanced credit disbursement, and ensuring that the growth of social financing scale and money supply matches economic growth and price level expectations.
Smoothing the transmission mechanism of monetary policy, giving full play to the guiding role of policy rates, implementing and supervising interest rate policies, and promoting the operation of comprehensive financing costs at low levels. Orderly expanding the coverage of explicit corporate loan comprehensive financing cost disclosure work, and promoting the disclosure of comprehensive financing costs for personal loans. Maintaining basic stability of the RMB exchange rate at a reasonable equilibrium level, and preventing exchange rate overshooting risks.
中央銀行：引き続き適度な緩和的金融政策を実施し、増加政策とストック政策の統合効果を発揮する
Mars Finance News: According to Golden Ten reports, the People’s Bank of China’s 2026 work conference will be held on January 5-6. The conference emphasizes continuing to implement a moderately loose monetary policy, leveraging the combined effect of incremental and stock policies, strengthening countercyclical and cross-cyclical adjustment efforts, enhancing the quality and efficiency of financial services to support high-quality economic development, deepening financial reform and higher-level opening up, strengthening the forward-looking, targeted, and coordinated nature of macroeconomic policies, focusing on expanding domestic demand and optimizing supply, preventing and defusing risks and stabilizing social expectations, creating a favorable monetary and financial environment for steady economic growth, high-quality development, and stable operation of financial markets, and providing strong financial support for achieving a good start to the “15th Five-Year Plan.”
Additionally, the conference emphasizes treating the promotion of high-quality economic development and reasonable price recovery as important considerations of monetary policy, flexibly and efficiently employing multiple monetary policy tools such as reserve requirement ratio cuts and interest rate cuts, maintaining ample liquidity, keeping social financing conditions relatively loose, guiding reasonable growth of total financial volume and balanced credit disbursement, and ensuring that the growth of social financing scale and money supply matches economic growth and price level expectations.
Smoothing the transmission mechanism of monetary policy, giving full play to the guiding role of policy rates, implementing and supervising interest rate policies, and promoting the operation of comprehensive financing costs at low levels. Orderly expanding the coverage of explicit corporate loan comprehensive financing cost disclosure work, and promoting the disclosure of comprehensive financing costs for personal loans. Maintaining basic stability of the RMB exchange rate at a reasonable equilibrium level, and preventing exchange rate overshooting risks.