People's Bank of China sets 2026 accounting and finance priorities focused on tighter budget discipline and improved procurement controls

The People's Bank of China held its 2026 accounting and finance work conference, reviewing 2025 delivery and setting out the 2026 agenda for the central bank’s accounting and financial management functions. The work programme centres on strengthening budget management and oversight, completing rectification actions arising from central inspection and audit findings, and tightening internal controls over funds, assets and procurement. The conference credited 2025 progress in refining the budget management framework, strengthening departmental budget expenditure controls and spending standards, and improving financial resource allocation. It also highlighted deeper implementation of remediation measures linked to central inspection and audit exercises, alongside targeted work on financial supervision, procurement checks and asset utilisation, and further development of governance arrangements for affiliated entities, including mechanisms such as responsibility lists and tighter management of major business and finance matters. For 2026, the plan calls for upgrading budget management rules and reinforcing budget constraints and supervision, pushing forward inspection and audit rectification and converting outcomes into operational improvements, and reviewing procurement policies to improve procurement management by category and tier and raise standardisation. The agenda also includes research on accounting standards and accounting systems in light of macroeconomic and financial conditions, and workforce development aimed at strengthening the professionalism and discipline of the accounting function.