2025.12. 12 本文字数：2008，阅读时长大约4分钟 作者 | 第一财经 杜川 12月12日，中国人民银行召开党委会议，传达学习中央经济工作会议精神，落实全国金融系统工作 会议要求，研究部署贯彻落实举措。 在当日召开的全国金融系统工作会议上，中共中央政治局委员、中央金融委员会办公室主任何立峰表 示，要继续实施好适度宽松的货币政策，加强对扩大内需、科技创新、中小微企业等重点领域的金融 支持，稳步有序推进金融改革开放，做好预期管理。 具体在明年工作方面，央行会议提出了五大方向，涉及完善中央银行制度、继续实施适度宽松的货币 政策、防范化解重点领域金融风险、稳步推进金融高水平开放等。 构建科学稳健货币政策体系 完善中央银行制度，建设强大的中央银行被列为央行的首要工作。 央行表示，构建科学稳健的货币政策体系，动态评估完善货币政策框架，丰富货币政策工具箱，加强 货币政策执行和传导。 在发挥好货币政策工具总量和结构双重功能的同时，也要持续畅通货币政策传导机制。"这既需要加 强对货币政策执行情况的评估和监督，也需要做好货币政策与其他宏观政策的协同配合，还需要有效 实施政策沟通和预期管理。"上述专家称。 降准降息是明 ...

中央经济工作会议12月10日至11日在北京举行，习近平总书记出席会议并发表重要讲话。会议期间，部 分与会同志接受记者采访，畅谈对会议精神的学习认识和下一步工作打算。中国人民银行行长潘功胜表 示，中国人民银行将继续实施好适度宽松的货币政策，把握好政策实施的力度、节奏和时机，为经济稳 定增长和金融市场稳定运行创造良好的货币金融环境；防范化解重点领域金融风险，维护金融稳定；积 极践行习近平总书记提出的全球治理倡议，推动完善全球金融治理，深化金融改革和高水平对外开放， 维护国家金融安全。 （文章来源：新华社） ...

Core Viewpoint - The report by the People's Bank of China emphasizes the importance of maintaining a stable and progressive financial system, enhancing support for the real economy, and ensuring financial stability and security while deepening financial reforms and opening up [2]. Group 1: Monetary Policy - The implementation of a moderately loose monetary policy is prioritized, with a focus on structural support for technology innovation, consumption, small and micro enterprises, and stabilizing foreign trade [4][5]. - By the end of September 2025, loans for technology, green, inclusive, elderly care, and digital economy industries grew by 11.8%, 22.9%, 11.2%, 58.2%, and 12.9% respectively, all significantly outpacing the overall loan growth [5]. - The goal is to create a conducive monetary environment to support economic recovery, ensuring that the growth of social financing and money supply aligns with economic growth and price expectations [5][6]. Group 2: Financial Services to the Real Economy - The focus is on providing high-quality financial services, particularly in areas such as technology innovation, consumption stimulation, small and micro enterprises, and stabilizing foreign trade [6]. - Financial institutions are encouraged to enhance their specialized and refined service capabilities, ensuring effective use of existing structural monetary policy tools [6]. Group 3: Financial Opening and International Cooperation - A multi-channel, comprehensive cross-border payment system for the RMB has been established, with significant progress in internationalization and cooperation [8][9]. - The RMB has become the largest currency for cross-border payments in China and ranks among the top three currencies for trade financing globally [8]. - The report outlines plans to further promote the internationalization of the RMB and enhance its functions in pricing, payment, investment, financing, and reserves [9][10]. Group 4: Risk Prevention and Financial Stability - Significant achievements have been made in preventing and mitigating financial risks, particularly in addressing the risks of small and medium-sized financial institutions [12]. - By the end of September 2025, the number of financing platforms and the scale of operating financial debt decreased by 71% and 62% respectively compared to March 2023, indicating a notable reduction in risk [12]. - Future efforts will focus on monitoring systemic financial risks and supporting the market-oriented transformation of financing platforms [12].

Group 1: Monetary Policy - The report emphasizes the implementation of a moderately loose monetary policy to create a suitable financial environment for economic recovery [2][3] - The People's Bank of China (PBOC) has injected liquidity into the banking system, with a recent announcement of 900 billion yuan in medium-term lending facility (MLF) operations [2][3] - The PBOC aims to maintain ample liquidity and support government bond issuance and bank credit [2][3] Group 2: Financial Regulation - The report highlights the need to strengthen and improve financial regulation to enhance regulatory quality and effectiveness [4][5] - Major banks have adopted a common principle of "preventing risks, strengthening regulation, and promoting high-quality development" [5] - A multi-layered risk control network is being established within the banking system to ensure compliance and risk management [4][5] Group 3: Support for the Real Economy - The report stresses the importance of providing high-quality financial services to support the real economy and continuing structural reforms in financial supply [6][7] - From November 2024 to September 2025, A-shares saw 98 companies go public, raising 91.8 billion yuan, with 86% being private enterprises [6] - Major banks are committed to enhancing financial services for the real economy, focusing on sectors like advanced manufacturing and rural finance [6][7] Group 4: Risk Prevention - The report emphasizes the need to prevent and mitigate financial risks in key areas while maintaining systemic financial stability [8][9] - Banks are focusing on balancing development and safety, with a commitment to comprehensive risk management [9] - The banking sector has seen a reduction in the number of institutions and an improvement in asset quality, with non-performing loan ratios decreasing to 1.49% [9] Group 5: Financial Opening - Banks are actively pursuing international competitiveness and enhancing global service capabilities [10] - The China Bank aims to support the internationalization of the yuan and contribute to the Belt and Road Initiative [10] - Major banks are emphasizing the importance of both "going out" and "bringing in" in their strategies for high-level financial openness [10]