本报讯 记者马玲报道 2月4日，国家外汇管理局举办2026年退休干部新春团拜会。国家外汇管理局 党组书记、局长朱鹤新出席并致辞，代表国家外汇管理局党组向各位老领导、老同志致以诚挚的节日问 候和新春祝福。国家外汇管理局党组成员、副局长出席活动。 朱鹤新表示，退休干部是外汇管理事业的宝贵财富，是推动外汇管理高质量发展的重要力量。国家 外汇管理局党组将深入学习贯彻习近平总书记关于老干部工作的重要论述和重要指示批示精神，深刻把 握老干部工作的政治性、服务性，满腔热忱为老同志办实事、做好事、解难事。希望老同志们永葆政治 本色，发挥自身优势和专业特长，一如既往地关心支持外汇管理工作，为建设金融强国、推进中国式现 代化贡献外汇力量。 国家外汇管理局部分在京退休干部、退休干部工作领导小组成员单位主要负责同志参加团拜会。 责任编辑：袁浩 朱鹤新表示，过去的一年，国家外汇管理局坚持以习近平新时代中国特色社会主义思想为指导，认 真贯彻落实党中央、国务院决策部署，统筹国内国际两个大局，统筹发展和安全，深化拓展外汇领域改 革开放，强化外汇市场建设和监管，大力提升外汇服务实体经济质效，外汇市场顶住压力平稳运行，展 现出较强韧性和活力，外 ...

"下一步，国家外汇管理局上海市分局将持续完善绿色外债试点长效机制，努力提升外汇领域绿色金融 服务质效，奋力谱写绿色金融大文章，切实推动跨境投融资外汇管理改革创新政策在辖内落实落细。" 钟磊说。 （文章来源：新华财经） 新华财经上海1月29日电（记者王淑娟）在29日召开的人民银行上海总部2026年第一季度新闻发布会 上，人民银行上海总部外汇管理部副主任钟磊表示，目前，上海地区"绿色外债"政策试点取得良好先发 示范效应，试点一个多月来，在国家外汇管理局上海市分局指导下，上海辖内银行积极配合做好政策宣 介，为6家企业高效办理绿色外债登记，融资总额突破6400万美元（约4.5亿人民币）。 近年来，我国加快构建新发展格局，努力推动实现"双碳"目标。目前，我国已建成全球最大的绿色信贷 市场和绿色债券市场，企业在绿色低碳转型过程中，产生较大资金需求，但企业绿色融资仍存在资金缺 口。在此背景下，2025年11月下旬，根据国家外汇管理局工作部署，国家外汇管理局上海市分局发布 《上海市绿色外债试点业务指引（试行）》，在上海市开展绿色外债业务试点。 钟磊表示，试点政策优化了符合条件的非金融企业的跨境融资宏观审慎管理，允许专项用于绿 ...

Core Viewpoint - The Chinese government is implementing a comprehensive set of policies to stabilize foreign trade and investment, enhance cross-border financing reforms, and support new trade formats like cross-border e-commerce, aiming for a more convenient, open, secure, and intelligent foreign exchange management system in 2026 [1][3]. Group 1: Foreign Trade and Investment Stability - In 2025, China's total import and export value reached 41.21 trillion yuan, a year-on-year increase of 3.6% [3]. - The number of newly established foreign-invested enterprises was 61,207, reflecting a 16.9% year-on-year growth [3]. - The actual use of foreign capital amounted to 693.18 billion yuan, supported by a package of foreign exchange policies [3]. Group 2: Cross-Border E-Commerce and New Trade Formats - In 2025, over 1 billion online foreign exchange transactions related to cross-border e-commerce were processed, serving more than 1.8 million small and micro businesses [4]. - The foreign exchange hedging ratio for enterprises reached a historical high of 30.2% [4]. Group 3: Financial Policies and Support for Innovation - The State Administration of Foreign Exchange (SAFE) has expanded cross-border financing channels for high-tech and specialized enterprises, allowing eligible companies to borrow up to $1 million in foreign debt without restrictions [5][6]. - The "Kehui Tong" pilot program for non-enterprise research institutions has been expanded nationwide to facilitate foreign investment [6]. - SAFE has initiated a green foreign debt business pilot, with a scale of approximately $1.1 billion, to support green and low-carbon projects [6]. Group 4: Future Work Focus - The focus for 2026 includes optimizing trade foreign exchange management, expanding high-level cross-border trade pilot programs, and enhancing support for new trade formats [4][6]. - SAFE aims to continue developing the cross-border financial service platform, expanding its application scenarios to better serve enterprises [6].

Core Viewpoint - The 2026 National Foreign Exchange Management Work Conference emphasizes the construction of a "more convenient, more open, more secure, and more intelligent" foreign exchange management system, highlighting the integration of technology in enhancing foreign exchange management [1][3]. Group 1: Technological Integration - The concept of "more intelligent" foreign exchange management involves the use of artificial intelligence and big data to enhance the digital and intelligent level of foreign exchange management [1][3]. - The cross-border financial service platform, which integrates blockchain technology, has expanded its application to 15 scenarios, serving over 160,000 enterprises and facilitating financing exceeding $450 billion, while supporting over $2.5 trillion in convenient payments [1]. Group 2: Policy Implementation and Support - In 2025, the State Administration of Foreign Exchange implemented a package of policies to support stable foreign trade development, processing over 1 billion online foreign exchange transactions for new trade formats and serving over 1.8 million small and micro businesses [2]. - The foreign exchange management department plans to continue leveraging artificial intelligence and other digital technologies to enhance foreign exchange management and respond to enterprise needs through specific reform measures [2]. Group 3: Risk Management and Regulatory Measures - The foreign exchange market demonstrated resilience with a trading volume exceeding $39 trillion in the first 11 months of 2025, and the foreign exchange hedging ratio for enterprises reached 30.2%, both setting historical highs [2]. - The foreign exchange management department aims to improve risk identification and business supervision through advanced technology, while also enhancing macro-prudential management of cross-border capital flows [2].

Core Viewpoint - The People's Bank of China (PBOC) emphasizes the continuation of a moderately loose monetary policy for 2026, focusing on enhancing financial services for high-quality economic development and deepening financial reforms and higher-level opening-up [1][2]. Group 1: Monetary Policy and Economic Development - The PBOC will implement a flexible and efficient use of various monetary policy tools, including interest rate cuts and reserve requirement ratio reductions, to maintain ample liquidity and support balanced credit growth [2][3]. - The focus will be on promoting high-quality economic development and a reasonable recovery of prices as key considerations for monetary policy [2][3]. Group 2: Financial Risk Management - The PBOC aims to effectively manage financial risks in key areas by enhancing macro-prudential management and maintaining financial stability [3]. - A mechanism will be established to provide liquidity to non-bank institutions under specific scenarios, and there will be a focus on strengthening regulatory enforcement in financial markets [3]. Group 3: Financial Reform and Opening-Up - The PBOC will continue to optimize mechanisms like "Bond Connect" and "Swap Connect," supporting the construction of Shanghai as an international financial center and enhancing Hong Kong's status [3]. - There will be encouragement for more eligible foreign entities to issue Panda bonds, facilitating cross-border financial services [3]. Group 4: Foreign Exchange Management - The State Administration of Foreign Exchange (SAFE) emphasizes building a more convenient, open, secure, and intelligent foreign exchange management system for 2026 [5]. - Key tasks include deepening foreign exchange facilitation reforms, supporting the development of new trade formats like cross-border e-commerce, and enhancing the management of trade credit reporting [5]. Group 5: Safeguarding Foreign Exchange Reserves - The focus will be on ensuring the safety, liquidity, and value preservation of foreign exchange reserves, with plans to revise the Foreign Exchange Management Regulations [5].

Core Viewpoint - The 2026 National Foreign Exchange Management Work Conference highlighted the achievements and future goals of foreign exchange management in China, focusing on supporting new trade formats and enhancing the regulatory framework for foreign exchange activities [1] Group 1: Achievements in 2025 - In 2025, over 1 billion online cross-border e-commerce foreign exchange transactions were processed, serving more than 1.8 million small and micro enterprises [1] - The foreign exchange management department strengthened policy integration and market construction, achieving historical highs in foreign exchange market transaction volume and corporate foreign exchange hedging ratios [1] - Banks processed foreign exchange transactions worth $440 billion based on customer instructions throughout the year [1] Group 2: Goals for 2026 - The foreign exchange management work in 2026 aims to better balance development and security, creating a more convenient, open, secure, and intelligent foreign exchange management system [1] - The focus will be on deepening reforms and high-level opening in the foreign exchange sector, effectively meeting the foreign exchange needs of various entities while mitigating external risks [1] - There will be an emphasis on enhancing supervision during and after transactions to foster a foreign exchange policy environment that is both flexible and well-regulated, contributing to the successful start of the 14th Five-Year Plan [1]

Core Viewpoint - The 2026 National Foreign Exchange Management Work Conference was held to summarize the 2025 work and outline key tasks for 2026, emphasizing the integration of domestic and international strategies and the importance of high-quality development in foreign exchange management [1][2]. Group 1: Key Achievements in 2025 - The foreign exchange management department effectively implemented the decisions of the central government, achieving new results in various areas, including enhancing the quality of foreign exchange services for the real economy and deepening reforms in the foreign exchange sector [1][2]. - The foreign exchange reserve scale remained basically stable, indicating effective management practices [1]. Group 2: 2026 Work Focus - The work in 2026 will be guided by Xi Jinping's thoughts and will focus on creating a more convenient, open, safe, and intelligent foreign exchange management system [2][3]. - Key tasks include strengthening the Party's leadership in financial work, promoting strict governance, and enhancing the quality of party-building efforts [3][9]. Group 3: Reform and Development Initiatives - The conference highlighted the need for deepening foreign exchange facilitation reforms to enhance high-quality development, including optimizing trade foreign exchange management and supporting new trade formats like cross-border e-commerce [3][9]. - There will be a steady push for high-level institutional opening in the foreign exchange sector, including reforms in bank foreign exchange operations and policies for cross-border capital management [3][9]. Group 4: Regulatory Enhancements - The conference emphasized the importance of maintaining a robust regulatory framework to ensure the stability of the foreign exchange market, including macro-prudential management and the analysis of market conditions [4][10]. - Strengthening foreign exchange supervision and enhancing regulatory capabilities were also key points, with a focus on combating illegal cross-border financial activities [4][10]. Group 5: Future Directions - The management of foreign exchange reserves will prioritize asset safety, liquidity, and value preservation [5][11]. - The revision of the Foreign Exchange Management Regulations and the development of a higher standard international balance of payments statistical system are planned to improve the digitalization of foreign exchange management [5][11].

Core Viewpoint - The People's Bank of China (PBOC) emphasizes the continuation of a moderately accommodative monetary policy, enhancing counter-cyclical and cross-cyclical adjustments to support high-quality economic development and financial stability [2][4]. Group 1: PBOC's Key Work for 2026 - The PBOC will focus on seven key areas in 2026, including the effective use of various monetary policy tools such as reserve requirement ratio (RRR) cuts and interest rate reductions [2][4]. - The PBOC aims to maintain liquidity and ensure a relatively loose financing environment, guiding reasonable growth in total financial volume and balanced credit allocation [4]. - The central bank will work to stabilize the RMB exchange rate at a reasonable and balanced level while preventing excessive fluctuations [4]. Group 2: Enhancing Financial Services - The PBOC plans to improve the financial policy framework to support key areas such as domestic demand, technological innovation, and small and micro enterprises [5]. - There will be a focus on high-quality development of the bond market, particularly in the "technology board" sector, and increasing credit support for consumer services [5]. - The PBOC will enhance macro-prudential management and financial stability tools to mitigate risks in key financial sectors [5]. Group 3: Financial Reform and Opening Up - The PBOC will continue to optimize mechanisms like "Bond Connect" and "Swap Connect" to facilitate international financial cooperation [5]. - Support will be provided for the construction of Shanghai as an international financial center and the consolidation of Hong Kong's status [5]. - The PBOC encourages more eligible foreign entities to issue panda bonds, enhancing cross-border financial services [5]. Group 4: Foreign Exchange Management - The State Administration of Foreign Exchange (SAFE) emphasizes building a more convenient, open, secure, and intelligent foreign exchange management system [8]. - Key tasks for 2026 include deepening foreign exchange facilitation reforms and supporting the development of new trade formats like cross-border e-commerce [8]. - SAFE will implement policies for overseas lending and domestic foreign exchange loan management to ensure the safety and liquidity of foreign exchange reserves [10].

Core Viewpoint - The People's Bank of China emphasizes the importance of foreign exchange reserve management in maintaining economic and financial stability amid global market fluctuations [1] Group 1: Leadership and Acknowledgment - Pan Gongsheng, the Governor of the People's Bank of China, visited the Central Foreign Exchange Business Center to express appreciation for the management personnel [1] - The management team is recognized for effectively safeguarding the safety, liquidity, and value preservation of foreign exchange reserve assets [1] Group 2: Strategic Focus for 2026 - The Central Foreign Exchange Business Center is urged to align with the guiding principles of Xi Jinping's thought and implement the decisions from the 20th National Congress and subsequent plenary sessions [1] - The center is tasked with enhancing the quality of foreign exchange reserve management and responding to global economic and financial challenges [1] - There is a call for better coordination between development and security while tracking global economic trends closely [1]

Core Viewpoint - The recent release of the "Opinions on Financial Support for Accelerating the Construction of the Western Land-Sea New Corridor" emphasizes the importance of financial collaboration across various sectors to enhance infrastructure and logistics in western China [1][2]. Group 1: Financial Support Mechanisms - The People's Bank of China will strengthen collaboration with various sectors to establish a project library and lists of key logistics enterprises, facilitating financing and settlement needs for listed companies [1][2]. - The China Securities Regulatory Commission (CSRC) will support the comprehensive use of equity financing, bond financing, and asset revitalization tools to promote capital formation for the corridor's development [1][2]. Group 2: Infrastructure and Fund Establishment - The establishment of the Western Land-Sea New Corridor Fund in Chongqing aims to aggregate diverse capital sources to address financing challenges for infrastructure projects and cross-regional industrial development [3]. - A financial service center for the corridor will be built to enhance financial service capabilities and foster cooperation among financial institutions along the corridor [3]. Group 3: Capital Market Development - The CSRC is committed to enhancing multi-layered capital market construction, supporting various financing channels such as stock markets, corporate bonds, and asset-backed securities to aid the corridor's development [4][5]. - As of November this year, over 650 A-share listed companies are located in the corridor's provinces, with significant fundraising activities supporting the corridor's infrastructure and economic growth [5].