Core Viewpoint - The People's Bank of China (PBOC) is committed to maintaining a supportive monetary policy stance and will resume open market operations for government bonds to enhance market stability and liquidity [2][8]. Monetary Policy and Market Operations - The PBOC will restore open market operations for government bonds after a pause due to market imbalances and risks, indicating a positive outlook for the bond market [2] - The central bank aims to maintain ample liquidity and will utilize various monetary policy tools to support economic recovery and financial market stability [2] Digital Currency Initiatives - The PBOC plans to optimize the management system for digital currency, supporting more commercial banks to operate digital yuan services [3] - A digital yuan international operation center has been established in Shanghai to facilitate cross-border cooperation [3] Regulation of Virtual Currencies - The PBOC will continue to combat the operation and speculation of virtual currencies domestically, emphasizing the need for regulatory measures to address risks associated with stablecoins [4] - The central bank has previously issued multiple policy documents to mitigate risks related to virtual currency trading, which remain effective [4] Credit Repair Policies - The PBOC is researching policies to support individuals in repairing their credit, particularly for those who have defaulted due to the pandemic but have since repaid their debts [5] - A proposed one-time credit relief policy aims to exclude certain repayment records from credit reports to aid individuals in restoring their credit status [5] Macro-Prudential Management - The PBOC is focused on building a comprehensive macro-prudential management system, with key areas including monitoring economic and financial risk interconnections, enhancing market resilience, and assessing systemically important financial institutions [6] - The central bank will also evaluate the cross-border transmission of international economic and financial risks [6] Liquidity Mechanisms for Non-Bank Institutions - The PBOC is exploring mechanisms to provide liquidity to non-bank institutions under specific circumstances, balancing market stability and moral hazard concerns [7] Systemic Financial Risk Monitoring - The PBOC is strengthening its monitoring and assessment framework for systemic financial risks, with preliminary plans in place to publish a list of systemically important insurance companies [8]
潘功胜重磅宣布:央行将恢复公开市场国债买卖!还就虚拟货币、稳定币最新表态
Mei Ri Jing Ji Xin Wen·2025-10-27 10:04