Core Viewpoint - The People's Bank of China (PBOC) held a meeting on January 15, 2026, to summarize the payment settlement work in 2025 and outline key tasks for 2026, emphasizing the need for high-quality development in the payment system and cross-border payment capabilities [1] Group 1: Payment System Development - Since 2025, the regulatory framework for the payment sector has been continuously improved, and the level of payment supervision and services has steadily increased [1] - Significant progress has been made in building a safe and efficient cross-border payment system, with important breakthroughs in domestic and international payment connectivity [1] - The payment industry is entering a new stage of high-quality development [1] Group 2: 2026 Work Focus - The 2026 payment settlement work will closely align with the "14th Five-Year Plan" and the goals of building a strong financial nation [1] - There will be an accelerated construction of the RMB cross-border payment system, promoting connectivity and diversification in cross-border payment systems [1] - Strict implementation of transparent supervision and functional regulation of payment institutions will be enforced to foster a compliant and healthy industry ecosystem [1] Group 3: Service Optimization - Continuous efforts will be made to optimize payment services, ensuring convenient and secure payment options [1] - The quality and efficiency of payment system services will be enhanced, with innovation driving the upgrade of the industry [1]

Core Viewpoint - The People's Bank of China emphasizes the acceleration of the construction of a cross-border payment system for the renminbi, aiming for high-quality development of the modern payment system in alignment with the 14th Five-Year Plan and financial power construction goals [1] Group 1: Payment System Development - The 2026 payment settlement work will focus on promoting the high-quality development of the modern payment system [1] - There is a push for the construction of a cross-border payment system, enhancing interconnectivity and promoting a diversified and multi-layered development of cross-border payment systems [1] Group 2: Regulatory Measures - Strict implementation of penetrating regulation for payment institutions and functional regulation of payment services is mandated [1] - The aim is to create a healthy industry ecosystem through a combination of administrative and self-regulatory measures [1] Group 3: Service Optimization - Continuous efforts will be made to optimize payment services, ensuring convenient and secure payment options [1] - There is a focus on improving the quality and efficiency of payment systems, leveraging innovation to enhance industry standards [1]

Core Viewpoint - The People's Bank of China (PBOC) held a meeting on January 15, 2026, focusing on the development of a modern payment system aligned with the "14th Five-Year Plan" and the goal of building a strong financial nation [2]. Group 1: Meeting Objectives and Outcomes - The meeting aimed to summarize the payment settlement work of 2025, analyze the current situation, and outline key tasks for 2026 [2]. - The PBOC noted that since 2025, regulations and systems in the payment sector have been continuously improved, leading to enhanced regulatory and service levels [2]. Group 2: Key Requirements for 2026 - The PBOC emphasized the need to accelerate the construction of a cross-border payment system for the Renminbi and promote interconnectedness in cross-border payments [2]. - There is a focus on diversifying and developing a multi-layered cross-border payment system [2]. - The meeting called for strict implementation of transparent regulation for payment institutions and functional regulation of payment services [2]. Group 3: Industry Development and Innovation - The PBOC aims to create a healthy industry ecosystem through a combination of administrative and self-regulatory measures [2]. - Continuous optimization of payment services is essential, with an emphasis on providing convenient and secure payment options [2]. - The enhancement of service quality in payment systems is to be driven by innovation, promoting the upgrading of the industry [2].

Regulatory - The People's Bank of China (PBOC) has set its work priorities for 2026, emphasizing the need to clarify the comprehensive financing costs of personal loans and to enhance credit support for consumer services and elderly care through targeted refinancing policies [2] - The PBOC also plans to implement a one-time personal credit repair policy and enforce strict regulatory measures on payment institutions and their business functions [2] Banking - The qualification of LIM HUI HUNG LUANNE as the chairman of Hang Seng Bank (China) has been approved by the Shanghai Financial Regulatory Bureau [3] - Zhuhai China Resources Bank and its related branches have been fined 5.5 million yuan due to non-compliance with related party transaction regulations, inaccurate loan classifications, and insufficient provisions for non-performing loans related to debt committees [4] Large Companies - CITIC Financial Asset has announced that Zhang Jian has received approval from the National Financial Regulatory Administration to officially serve as the company's vice president [5]