The People's Bank of China (PBOC) has published a reform and development plan for the 15th Five-Year Plan period (2026-2030), targeting improvements to monetary policy and macroprudential tools to maintain financial stability, according to CGTN.
The plan also aims to strengthen financial support for the real economy, with a clear focus on technology and the green transition, develop inclusive finance, and improve the pension system.
The plan aims to create a more open and resilient financial market, as well as steadily promote the internationalization of the yuan and expand its use in global trade. At the core of all this is the modernization of financial infrastructure, including the digital yuan, to ensure the efficiency and security of the system, the PBOC said.
The plan emphasizes the need to strengthen market-based mechanisms for setting and adjusting interest rates, allowing the market to play a decisive role in determining the exchange rate and maintaining overall stability of the yuan at a reasonable and equilibrium level. To strengthen financial stability, the PBOC will expand the coverage of macroprudential management, enrich its toolkit, and establish a monitoring and evaluation system to mitigate systemic risks in key areas, according to Xinhua.
The PBOC stated that it will ensure the effective implementation of all measures outlined in the plan to strengthen China's financial capacity and support high-quality economic development.