# People's Bank of China
Latest news and articles about People's Bank of China
Total: 13 articles found
China’s Credit Surge and Low Borrowing Costs Propel a Steady Start to 2026
China opened 2026 with a notable expansion of credit and money supply: January M2 grew 9.0% year‑on‑year while social financing rose 8.2%. Government bond issuance and a significant rise in bank lending—particularly medium‑ and long‑term corporate loans—underpinned the pickup, while financing costs remained low, supporting firms and infrastructure projects.
PICC Faces Wave of Regional Fines as Regulators Flag Widespread Compliance Failures
PICC Property and Casualty has received at least 15 regulatory penalties since the start of 2026, with regional branches fined for falsified data, misuse of policy terms, fabricated intermediary fees and refusal to accept cash. Regulators have issued fines, warnings and long-term industry bans, exposing systemic weaknesses in internal controls across the insurer’s local operations.
China Starts the Year with Ample Liquidity: M2 Rises 9% as Deposits and Government Bond Financing Surge
China’s central bank data for January show broad money (M2) up 9% and an increase of 8.09 trillion yuan in RMB deposits, while total social financing expanded by 7.22 trillion yuan. Government bond issuance and short‑term bank credit powered the monthly financing increase, against a backdrop of plentiful interbank liquidity and low short‑term rates.
Beijing Injects Rmb20.5bn into Lunar New Year Consumption Blitz — Prize-invoice lottery and loan subsidies aim to jump‑start spending
Beijing has deployed roughly Rmb20.5 billion in vouchers, subsidies and prizes over a nine‑day Lunar New Year period to spur household spending, backed by a larger Rmb625 billion trade‑in fund and a Rmb100 billion prize‑invoice pilot. The package combines fiscal transfers, retail supply measures and financial easing aimed at converting available goods and services into sales, but its long‑term effectiveness depends on household confidence and income growth.
PBOC Keeps Policy Loose but Targeted: Cushioning Growth while Nudging Prices Up
The People’s Bank of China has reaffirmed a policy of moderate monetary easing, combining new measures with existing tools to support growth and a gradual rebound in prices. The bank is steering credit toward technology, small firms, green projects and consumption while monitoring liquidity through a wider lens that merges deposits and managed assets.
China Tightens Noose on Tokenised Assets: Domestic Ban on RWA Tokenisation and Offshore Clampdown on RMB Stablecoins
China has tightened crypto regulation by banning onshore tokenisation of real-world assets and forbidding domestic parties from issuing RMB-pegged stablecoins overseas. The twin actions aim to curb disguised fundraising, clarify legal ties between tokens and underlying assets, block cross-border regulatory arbitrage, and steer activity into sanctioned, supervised channels.
China Tightens the Noose on Crypto and Tokenised Assets: Offshore RMB Stablecoins Banned, Domestic Services Prohibited
China’s central bank and seven other agencies issued a decisive notice on 6 February 2026 that reiterates a ban on cryptocurrency trading and services while extending strict controls to tokenisation of real‑world assets and offshore issuance of RMB‑pegged stablecoins. The measures mobilise an interagency enforcement apparatus and bar financial, internet and intermediary firms from supporting unauthorised crypto and RWA activities.
China Declares All Crypto-Related Business Illegal, Bans RMB-Pegged Stablecoins Abroad and Tightens Mining Crackdown
China’s central bank and seven other ministries declared virtually all crypto-related business illegal, tightened rules on internet platforms and company registrations, and prohibited the overseas issuance of renminbi‑pegged stablecoins without approval. The coordinated notice widens enforcement to include platform takedowns, mining curbs and potential criminal prosecution, closing formal onshore channels for crypto trading and tokenisation.
PBOC Signals Targeted Credit Push for Tech, Consumption and SMEs While Urging Market-Based Cleanup of Local Debt
The People's Bank of China set a 2026 agenda of targeted credit support for strategic sectors — including technology, green projects, consumption and SMEs — while pressing ahead with market-based resolution of local government financing platform debt. The central bank signalled a calibrated approach that pairs sectoral credit expansion with ongoing risk containment and closer fiscal coordination.
Xi Maps a State‑Led Road to a ‘Financial Power’: Stability, Party Control and Global Ambitions
In a Qiushi essay, Xi Jinping outlines an eight‑point framework for building China into a global financial power that blends market reforms with firm Party leadership. The plan lists the institutional elements of financial strength — from an internationally used currency to robust regulation and talent — while insisting that development remain politically guided and risk‑averse.
Beijing Extends and Expands Loan Interest Subsidies to Boost Service Consumption Through 2026
China has extended a fiscal loan interest‑subsidy scheme for service businesses through the end of 2026, raising the 2026 per‑borrower subsidy cap to RMB 10 million and widening eligible sectors to include digital, green and retail. The move aims to mobilise bank lending and central fiscal resources to revive consumption while imposing stricter oversight and faster settlement procedures.
China Holds Fire on LPR for Eighth Month as Markets Brace for Possible Q2 Rate Cut
China left its LPR unchanged for an eighth straight month on January 20, with the one‑year rate at 3.00% and the five‑year+ at 3.50%. Forecasters warn that worsening export pressures from higher U.S. tariffs could prompt Beijing to follow early targeted easing with a broader policy rate cut in Q2, which would likely push mortgage and corporate lending rates lower.