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August 19, 2026 at 05:31 UTC
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People's Bank of China

CNY · Official Website

Latest Statement

⚖️ Neutral
People's Bank of China and State Administration of Foreign Exchange Officials Answer Questions Regarding the Notification on Adjusting Matters Related to Overseas Loan Business of Banking Financial Institutions
2026-04-15

The People's Bank of China has issued a notification to adjust and optimize regulations regarding overseas loan operations by banks, aimed at enhancing support for enterprises operating abroad. Key changes include raising the overseas loan balance limits and improving indirect loan management requirements to better accommodate the financing needs of foreign enterprises.

Bank Profile

Mandate
Price stability, exchange rate stability, support economic growth and employment
Decision Types
Loan Prime Rate (LPR), Reserve requirement ratio (RRR), Medium-term Lending Facility (MLF)
Policy Instruments
Open market operations, Standing Lending Facility (SLF), Pledged Supplementary Lending (PSL), Window guidance
Target Indicators
CPI inflation (3%), GDP growth target, M2 money supply, Exchange rate stability
Communication Style
State Council aligned, less forward guidance, uses targeted lending tools
Committee
Monetary Policy Committee (MPC) - advisory role, State Council sets policy

Economic Indicators

Policy Rate3.00%
USD/CNY6.8976
GDP Growth6.8%
M2 Growth9.1%
10Y Yield1.81%
2y10y Spread+0.44%
HISTORICAL TRENDS
Policy Rate
3.453.00
FX Rate
6.926.87
CPI
2.900.06
GDP
8.572.34
10Y Yield
1.841.80
2Y-10Y Spread
0.450.42
Stance
0.000.00

Key Commodities

Top traded commodities for China

Commodity Price 1D 30D
Brent Crude Oil 93.26 USD/barrel +0.6% +32.4%
Iron Ore 101.60 USD/mt -2.1% -25.6%
Copper 13,542.82 USD/mt -0.1% +62.2%

Recent Statements

Notice on the Issuance of the Management Measures for Domestic Enterprises' Overseas Lending 🕊️ Dovish
2026-03-20
🏦 Reserves
↑0 ↓1
📝 Classified Sentences
🏦 Reserve Easemp_credit
"To better meet the cross-border operational funding needs of 'going out' enterprises, the macro-prudential adjustment coefficient has been raised from the previous 0.5 to 0.6."
2025 Major Events in China's Monetary Policy 🕊️ Dovish
2026-02-10
⚡ Rate
↑0 ↓3 →0
🏦 Reserves
↑0 ↓1
💧 QE/QT
↑0 ↓1
📝 Classified Sentences
⚡ Rate Cutmp_interest_rate
"On May 7, the People's Bank of China decided to cut the re-loan rate by 0.25 percentage points."
💧 Liquidity Easemp_credit
"On May 7, the People's Bank of China decided to increase the quota for re-loans supporting agriculture and small enterprises by 300 billion yuan, encouraging local financial institutions to further increase credit to agricultural, small, and private enterprises."
⚡ Rate Cutmp_interest_rate
"On May 8, the People's Bank of China cut the policy rate by 0.1 percentage points, adjusting the 7-day reverse repurchase operation rate from 1.50% to 1.40%."
🏦 Reserve Easemp_interest_rate
"On May 15, the People's Bank of China lowered the reserve requirement ratio for financial institutions by 0.5 percentage points (excluding those already at a 5% reserve requirement), and lowered the reserve requirement ratio for auto finance companies and financial leasing companies by 5 percentage ..."
⚡ Rate Cutmp_interest_rate
"On May 20, the People's Bank of China authorized the National Interbank Funding Center to announce the Loan Prime Rate (LPR), with the 1-year LPR at 3.0% and the 5-year LPR at 3.5%, both down by 10 basis points from the previous announcement."
Announcement No. 2 of the People's Bank of China in 2026 ⚖️ Neutral
2026-02-09
People's Bank of China and China Securities Regulatory Commission Officials Answer Questions on the Notice Regarding Further Prevention and Handling of Risks Related to Virtual Currencies ⚖️ Neutral
2026-02-06
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