People's Bank of China pledges key priorities in H2

The People's Bank of China (PBOC) emphasized its key priorities in the second half of the year on Friday at a mid-year meeting.

It pledged to strengthen support for sci-tech innovation, consumption, small and micro businesses, and stabilizing foreign trade in coming months.

Pan Gongsheng, governor of the central bank, stated PBOC will step up its implementation of a moderately loose monetary policy, ensuring that increases in aggregate financing and money supply are in step with projected economic growth and consumer price index levels.

It will also preserve flexibility of the RMB exchange rate, enhance guide expectations, and prevent exchange rate overshooting.

The bank will focus on supporting the real economy and utilize re-lending policies for sci-tech innovation and technological transformation to accelerate loan growth for small and medium-sized sci-tech enterprises, while increasing financing for key sectors.

Efforts will also be made to steadily and prudently advance the internationalization of the RMB, promote reform and opening-up of financial market, and deepen global financial cooperation, according to the PBOC.

China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.

The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.

According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.

In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.