The People's Bank of China issued its reform and development plan for the 15th Five-Year Plan period, accompanied by nine sector-specific action plans. The framework prioritizes modernization of the monetary policy system, broader macroprudential oversight and stronger financial stability arrangements, including improved base money issuance, market-based interest rate formation and transmission, and expanded risk monitoring and policy tools. The plan also calls for more targeted financing for strategic sectors and underserved areas, including technology, green and low-carbon development, inclusive finance, pensions, digital finance and consumption. Other priorities include developing resilient financial markets, advancing renminbi internationalization and two-way market opening, strengthening cross-border payment and infrastructure links, steadily developing the digital renminbi, and improving payment, treasury, credit reporting, financial statistics and anti-money laundering systems.
Central Bank of the Republic of China2026-08-10
People's Bank of China issues 15th Five-Year reform and development plan with nine supporting action plans
The People's Bank of China issued its 15th Five-Year reform and development plan with nine supporting action plans. Priorities include modernizing monetary and macroprudential frameworks, supporting strategic sectors, opening financial markets, advancing renminbi internationalization and strengthening financial infrastructure and central bank services.