The People's Bank of China and the State Administration of Foreign Exchange convened a system-wide conference on strict party governance and discipline inspection work, reviewing 2024 efforts on integrity and anti-corruption and setting key priorities for 2025 across both institutions. For the People's Bank of China, the 2025 agenda includes prioritising political oversight through the “first agenda item” mechanism, strengthening follow-through on central government decisions, completing rectification actions linked to central inspection findings with enhanced assessment, and upgrading coordination across supervisory functions. It also calls for institutionalising discipline education, targeted training for key groups including top leaders, younger staff and personnel in critical posts, tighter enforcement of the central “eight-point” rules with end-to-end case handling and warning education, stronger supervision over hiring and appointments, and more standardised management and control frameworks for affiliated entities. The State Administration of Foreign Exchange aligned its party governance priorities with commitments to improve the foreign exchange management framework described as “more convenient, more open and more secure”, strengthen the “macroprudential plus micro-supervision” approach to foreign exchange market oversight, enhance foreign exchange reserve operations management, and intensify control and supervision over key areas and roles. The discipline inspection leadership set out 2025 priorities including more precise and routine political supervision mechanisms, integrated investigation and remediation of misconduct and corruption with a focus on key sectors, people and matters, stricter and more targeted discipline enforcement, stronger accountability for party governance responsibilities, and a dedicated action plan for the “Year of Building Standardised, Rule-of-law-based and Regularised Discipline Inspection and Supervision Work”.
Central Bank of the Republic of China 2025-02-19
People's Bank of China and China’s State Administration of Foreign Exchange outline 2025 priorities for party discipline and anti-corruption work
The People's Bank of China and the State Administration of Foreign Exchange held a conference to review 2024 anti-corruption efforts and set 2025 priorities. The People's Bank of China will focus on political oversight, rectification actions, discipline education, and supervision of hiring and appointments. The State Administration of Foreign Exchange aims to enhance its foreign exchange management framework and strengthen market oversight and reserve operations.