(Yicai) Aug. 11 -- The People’s Bank of China has unveiled a set of reforms on monetary policy, financial markets, and openness for the 15th Five-Year Plan period (2026-2030), with strengthening monetary policy and macro-regulatory capabilities listed among the top priorities.

The PBOC will establish a sound and robust monetary policy system and a comprehensive macro-prudential management framework, improve the mechanism for the issuance of base money, enhance the formation, regulation, and transmission mechanisms of market interest rates, and maintain the stability of the Chinese yuan exchange rate at a reasonable and balanced level, according to the plan released by the central bank yesterday.

Moreover, the PBOC will expand the coverage of macro-prudential management, enrich macro-prudential management tools, establish a macro-prudential monitoring and assessment mechanism, strengthen the construction of a financial stability safeguard system, and steadily resolve financial risks in key areas.

The central bank also said it will further enhance its service capabilities to the real economy, including building a financial system that is compatible with technological innovation, developing a high-quality bond market for the technology sector, increasing financial support for green and low-carbon development, and improving the inclusive finance and pension systems.

In terms of opening up, the PBOC pledged to strengthen the cross-border connectivity of China’s financial infrastructure, expand the use of the Chinese yuan in international trade and investment, and establish a multi-tiered and widely accessible yuan cross-border payment system.

The plan also emphasizes the need to improve financial statistics, payment systems, treasury management, and cash service systems, steadily develop the digital Chinese yuan, promote the high-quality development of the credit reporting industry, and strengthen anti-money laundering supervision.

Editors: Dou Shicong, Futura Costaglione