The People's Bank of China held its 2026 Credit Market Work Conference and set out priorities for credit market work in 2026, centring on strengthening high-quality financial services for major strategies and key areas, expanding support for consumption, and continuing efforts to mitigate debt risks linked to local government financing platforms. The conference reviewed 2025 progress, citing smoother implementation of the "five major articles" of finance and a significant easing of financing platform debt risks. For 2026, the agenda includes improving mechanisms for the five major finance themes, implementing incremental policies via structural monetary policy tools with stronger coordination with fiscal policy, and building a multi-level financial service system targeting domestic demand expansion, scientific and technological innovation, and small, medium and micro enterprises. The programme also calls for continued support for local governments’ market-oriented transformation of financing platforms, with financial institutions guided to provide services in line with market-based and rule-of-law principles, alongside a more systematic "implementation-evaluation-optimization" policy cycle.

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