The People's Bank of China convened a mobilisation and deployment meeting to implement an overarching statistical system for the financial “five major articles”, setting out expectations for data reporting and supervision across financial institutions and financial market infrastructures. The central bank positioned the statistics as a basis for accurately assessing how finance serves the real economy, supporting evaluation and policy design. It highlighted that it has led the development of the overall statistical regime alongside more granular subfield statistical frameworks, forming a “1+N” system, and noted that institutions and infrastructures have already advanced preparations for orderly data submissions. Implementation priorities include firms coordinating internal resources, strengthening cross-departmental cooperation, and taking primary responsibility for data quality with stronger controls over source data, while the People's Bank of China’s local branches are to guide institutions, enforce data review responsibilities, strengthen statistical inspections, and coordinate onsite checks with offsite supervision.
Central Bank of the Republic of China 2025-04-29
People's Bank of China mobilises rollout of a 1+N statistical system for the financial five major articles
The People's Bank of China held a meeting to implement a comprehensive statistical system for financial data reporting and supervision, emphasizing its role in assessing finance's impact on the real economy. The "1+N" system includes a central statistical regime and subfield frameworks, with institutions preparing for data submissions. Priorities include enhancing internal coordination, data quality controls, and local branches inspecting institutions.