机构经营指标和监管指标处于合理区间 我国金融风险整体收敛总体可控

Core Insights - The People's Bank of China (PBOC) emphasizes maintaining financial stability while managing risks and promoting development in its "China Financial Stability Report (2025)" [1] Policy Tools Effectiveness - The PBOC has implemented a dual-pillar framework of monetary policy and macro-prudential policy to stabilize financial markets, which are crucial for economic development [2] - The foreign exchange market has shown resilience against external shocks, with the RMB performing steadily among major global currencies [2] - In the bond market, the PBOC has conducted operations to enhance liquidity and has warned against the systemic risks associated with declining long-term bond yields [2] Stock Market Support - In Q4 2024, the PBOC introduced two capital market support tools to enhance stability and boost confidence in China's capital markets [3] - The PBOC plans to optimize existing tools and explore new financial instruments to maintain market stability [3] Risk Management Progress - The PBOC's financial institution rating system categorizes banks into 11 levels based on risk, with 97.9% of rated banks falling within the safer categories [4] - The majority of provinces have seen a significant reduction in financial risks, with ongoing efforts to address risks in local small and medium-sized banks [4] Strengthening Safety Nets - The financial system has been enhancing risk management resources, including the collection of deposit insurance premiums and the establishment of a financial stability guarantee fund [5] - The deposit insurance system, effective since May 2015, covers 3,761 institutions and provides full protection for over 99% of depositors, exceeding international averages [6] - Future efforts will focus on improving the legal framework for deposit insurance and expanding the accumulation of the deposit insurance fund [6]