The People’s Bank of China held its 2026 Macroprudential Work Conference, reviewing 2025 macroprudential management and cross-border renminbi (RMB) business and setting priorities for 2026. The work programme centres on strengthening the central bank’s macroprudential function, gradually broadening the coverage of macroprudential policies, and refining policies to support cross-border RMB use. In its 2025 recap, the central bank pointed to progress in building a macroprudential management system, improving governance mechanisms, and strengthening macroprudential monitoring and evaluation, including in areas such as systemically important financial institutions, financial markets and cross-border capital flows. For 2026, planned actions include improving the working mechanism of the macroprudential and financial stability committee, strengthening forward-looking assessment of systemic risks and “hidden dangers”, and innovating and enriching the policy toolbox to support stable financial market operation and overall financial system stability. Cross-border RMB priorities include improving policy arrangements for RMB use, facilitating goods trade, optimising the layout of RMB clearing banks, better leveraging currency swaps, developing the offshore RMB market, and supporting the construction of the Shanghai International Financial Center to meet market participants’ needs for settlement, investment and financing, and risk management. Tao Ling, vice president and member of the Party Committee, attended and delivered a speech; officials from relevant People’s Bank of China and State Administration of Foreign Exchange departments, branches and some affiliated units participated.

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