The People's Bank of China (PBOC), China's central bank, will increase financial support for the country's economic restructuring, Governor Pan Gongsheng said at the China Development Forum Annual Meeting 2026 in Beijing on Sunday.
The two-day forum brings together global business leaders to explore shared opportunities arising from China's high-quality development.
Themed "China in its 15th Five-Year Plan period: advancing high-quality development and creating new opportunities together," the forum highlights China's role as a key engine of global development as it begins its 15th Five-Year Plan (2026-2030).
Pan said at the forum that China's central bank will continue the implementation of a moderately loose monetary policy. A variety of monetary policy tools, including the reserve requirement ratio, policy interest rates, and open market operations, will be utilized to maintain ample liquidity.
"Following the classification standards of the International Monetary Fund, China implements a managed floating exchange rate system. In the first three months or so of this year, the RMB has appreciated by about 1.3 percent against the U.S. dollar, 3.7 percent against the euro, 3.2 percent against the Japanese yen, and 2.4 percent against the British pound. China has neither the need nor the intention to gain a competitive advantage in trade through currency devaluation," Pan said.
Pan also said that the central bank will steadily promote high-level opening up of the financial industry, deepen the interconnection of financial markets and cross-border interconnection of payment systems, so as to facilitate more investment into China's financial markets.
PBOC to increase financial support for economic restructuring: governor
PBOC to increase financial support for economic restructuring: governor
