国务院关于金融工作情况的报告

Core Viewpoint - The report emphasizes the importance of financial work in supporting China's economic stability and high-quality development, highlighting the implementation of various monetary policies and regulatory measures to enhance financial stability and support the real economy [1][2]. Financial Work Progress and Achievements - Since November 2024, the financial system has focused on stabilizing and improving support for the real economy, enhancing financial regulation, and deepening financial reform and opening up, achieving new results [3]. - As of September 2025, the total assets of financial institutions exceeded 520 trillion yuan, with commercial banks' capital adequacy ratio at 15.36% and non-performing loan ratio at 1.52%, indicating strong resilience [4]. Monetary Policy Execution - A series of significant monetary policy measures were implemented, including reductions in reserve requirements and interest rates, leading to a year-on-year increase of 8.7% in social financing scale and 8.4% in broad money supply by September [3]. Financial Support for the Real Economy - From November 2024 to September 2025, A-share IPOs raised 91.8 billion yuan, with 86% from private enterprises and 92% from strategic emerging industries, indicating strong financing activity [6]. - Loans for technology, green, inclusive, elderly, and digital economy sectors grew significantly, with year-on-year increases of 11.8%, 22.9%, 11.2%, 58.2%, and 12.9% respectively [6]. Financial Reform and Opening Up - The reform of financial institutions is deepening, with state-owned banks successfully raising 520 billion yuan through targeted placements to bolster capital [7]. - The cross-border payment system for the renminbi has been established, enhancing its international use and positioning it as a major currency for cross-border transactions [7]. Risk Prevention and Mitigation - Measures have been taken to address risks in small and medium-sized financial institutions, with a significant reduction in the number of financing platforms and their debt levels [8]. - The real estate market is being supported through policies that lower down payments and mortgage rates, with new loans amounting to 2.2 trillion yuan facilitated through a "white list" mechanism [8]. Future Work Considerations - The focus will be on implementing a moderately loose monetary policy to support economic recovery, enhancing financial regulation, and providing high-quality financial services to key sectors [10][11]. - Continued efforts will be made to prevent systemic financial risks, particularly in the real estate sector and among small financial institutions, while promoting the stability of capital markets [13].