锚定金融强国目标 “十五五”聚焦完善 中央银行制度

Core Insights - The "15th Five-Year Plan" emphasizes the strategic goal of accelerating the construction of a financial powerhouse, focusing on enhancing the central bank system, establishing a comprehensive macro-prudential management framework, and improving policy transmission mechanisms for supporting the real economy and mitigating risks [1][2]. Group 1: Central Bank System Improvement - The improvement of the central bank system is prioritized as a key task in the "15th Five-Year Plan," which aligns with the concept of a financial powerhouse that includes strong currency, central bank, financial institutions, international financial centers, financial regulation, and talent [2]. - The People's Bank of China aims to deepen financial supply-side structural reforms and enhance the monetary policy system, ensuring effective policy transmission [2][3]. - The reform during the "15th Five-Year Plan" will focus on systematic and forward-looking institutional design, with key breakthroughs in mechanism innovation [3]. Group 2: Comprehensive Macro-Prudential Management System - The establishment of a comprehensive macro-prudential management system is highlighted as a critical measure for preventing systemic financial risks [4][5]. - The central bank's approach includes monitoring and assessing systemic financial risks, enhancing risk prevention measures for key institutions and sectors, and expanding the toolbox for macro-prudential management [4]. - The role of the central bank as a lender of last resort is expected to extend beyond banks to non-bank institutions, indicating a heightened focus on macro risks in the coming five years [5]. Group 3: Policy Transmission Mechanism - Improving the monetary policy transmission mechanism is identified as a vital task for the "15th Five-Year Plan," aimed at enhancing financial services for the real economy [6]. - Challenges remain in the current transmission mechanism and medium-to-long-term interest rate adjustments, necessitating further reforms in interest rate marketization and collaboration between monetary, fiscal, and industrial policies [6][7]. - The macroeconomic regulation will emphasize "cross-cycle design," maintaining stability and continuity in fiscal and monetary policies to avoid future inflation and financial risks [7].