扩大内需、科技创新 今年我国适度宽松货币政策将聚焦这些领域
Yang Shi Xin Wen·2026-01-07 02:24

Monetary Policy Outlook - In 2026, China will continue to implement a moderately accommodative monetary policy to maintain relatively loose social financing conditions and guide reasonable growth in total financial volume and balanced credit allocation [1] - The People's Bank of China (PBOC) will focus on promoting stable economic growth and reasonable price recovery as key considerations for monetary policy, utilizing various tools such as reserve requirement ratio cuts and interest rate reductions to ensure ample liquidity [1] - The PBOC aims to align the growth of social financing scale and money supply with economic growth and price level expectations [1] Focus Areas for Monetary Policy - The 2026 monetary policy will emphasize enhancing financial services for high-quality development of the real economy, improving the structural monetary policy tool system, and strengthening financial support for key areas such as expanding domestic demand, technological innovation, and small and micro enterprises [1] - The PBOC will utilize structural monetary policy tools to support expanding domestic demand, boosting consumption, activating effective investment, and focusing on key areas such as technology-driven initiatives, private sector support, green transformation, urban-rural integration, and collaborative efforts between mountains and seas [1] Cross-Border Use of Renminbi - In 2026, the PBOC will deepen high-level financial market opening, enhance the role of central bank currency swaps, and facilitate the use of Renminbi in trade and investment [2] - China will optimize mechanisms like "Bond Connect" and "Swap Connect," welcoming more eligible foreign entities to issue Panda bonds, while expanding the interconnectivity of rapid payment systems and promoting QR code interoperability [2] - The PBOC will implement a one-time personal credit repair policy, optimize payment services for the elderly and foreign personnel in China, strengthen virtual currency regulation, and steadily develop digital Renminbi [2]