2026
In the first nine months, household deposits surged by 9.39 trillion yuan, while net household loans decreased by 1.03 trillion yuan. Passenger car retail sales plummeted by 21.7%, and new home mortgage loans fell by 22.1%, indicating a continuous contraction of the household balance sheet.
2026-11-05
On November 5, Pan Gongsheng, Governor of the People's Bank of China, reported on financial work to the Standing Committee of the National People's Congress: As of the end of September this year, the number of remaining local government financing vehicles nationwide has decreased by 92% compared to the end of March 2023; as of the end of June, the stock of operational financial debt has decreased by 79%. The report also disclosed that the cumulative approval for real estate 'white list' loans has exceeded 8.4 trillion yuan, and that officials have established a liquidity support tool for clearing arrears and held talks with leading enterprises that have defaulted on payments.
2026-11-04
The People's Bank of China has intervened in the bond market through consecutive days of large-scale overnight reverse repos and the establishment of tools such as the Securities, Funds and Insurance Companies Swap Facility, stabilizing the run on the wealth management market.
2026-11-02
On November 2, the Chinese central bank announced that it will launch the Securities, Funds and Insurance companies Swap Facility (SFISF) operation on November 3, with a one-year term that can be extended as appropriate. 31 securities and fund companies have already reported their demand, with application quotas exceeding 100 billion RMB. This marks the third operation following those in October 2024 and January 2025.
2026-10-21
On October 21, the People's Bank of China announced an upgrade to the digital yuan infrastructure, launching a new system and intelligent integration service framework that supports preset consumption conditions and time limits.
2026-10-12
The Chinese Communist Party's People's Bank of China issued the document "Policy Stance on the RMB Exchange Rate," reiterating that China has neither the need nor the intention to gain a trade advantage through exchange rate depreciation, and will never engage in competitive devaluation.
2026-10-01
The Ministry of Finance, the central bank, and the National Financial Regulatory Administration jointly announced that starting October 1, eligible first-home mortgages will receive a fiscal interest subsidy of 1 percentage point per annum.
2026-10
The Chinese Communist Party (CCP) officially released economic data for September and the third quarter, showing exports hitting a record high in a single month, PPI rising 5% year-on-year, and new aggregate financing of 3.55 trillion yuan, presenting a recovery narrative; however, at the micro level, new household loans stood at zero, and profits of mid- and downstream firms were severely eroded by the scissors gap.
2026-10
At the Financial Street Forum, Pan Gongsheng announced the adjustment of the policy rate tenor, the establishment of liquidity support tools for non-bank institutions, the push to link large corporations' loans to the overnight repo rate, and the exit from the deposit and lending benchmark rates, turning intraday firefighting facilities from temporary tools into standing tools.
2026-09-29
On September 29, the Ministry of Finance, the central bank, and the National Financial Regulatory Administration jointly announced that starting October 1, eligible first-home mortgages will receive fiscal interest subsidies, with an implementation period provisionally set at one year — the first time the central fiscal budget has subsidized individual housing mortgages. The subsidy applies to newly purchased first-home loans for properties with an area of no more than 120 square meters and a total price of no more than 1.5 million yuan, providing an annualized interest subsidy of 1 percentage point on loans of up to 1 million yuan, for a maximum of five years.
2026-09-29
On September 29, China's central bank cut the one-year pledged supplementary lending (PSL) rate by 25 basis points to 1.5%, expanded the scope of support to include telecommunications, logistics networks and other fields, and increased the quota for equipment renewal and technology re-lending by 200 billion yuan to 1.4 trillion yuan.
2026-09-23
China's central bank announced the issuance of 60 billion RMB in central bank bills in Hong Kong on September 23, aiming to drain offshore RMB liquidity to maintain the RMB exchange rate.
2026-09-17
The central bank's Q2 report on loan allocation shows that the outstanding balance of personal housing loans was 36.29 trillion yuan, down 3.8% year on year, as the mortgage balance continued to contract.
2026-09-14
The People's Bank of China released the financial data for August. New RMB loans nationwide totaled only 60 billion yuan, far below the market expectation of 404.3 billion yuan, and the year-on-year growth rate plummeted to a historic low of 4.9%. Both household and corporate loans experienced sharp declines, reflecting a frozen willingness for private sector investment and consumption.
2026-09-14
China's central bank released August financial data. New renminbi loans nationwide totaled only 59.1 billion yuan, while household loans fell by a net 202.9 billion yuan.
2026-09-14
The aggregate financing to the real economy for August announced by the central bank was 1.66 trillion yuan, of which net government bond financing was 1.01 trillion yuan, accounting for 60.8%; renminbi loans to the real economy were only 60 billion yuan, accounting for 3.6%, meaning financing was mainly supported by government borrowing.
2026-09-14
Central bank data show that household loans decreased by 202.9 billion yuan in August, of which short-term loans fell by 121.9 billion yuan and medium-to-long-term loans fell by 82.2 billion yuan. Both the short and long ends declined simultaneously, indicating that residents are neither buying homes nor borrowing to finance consumption.
2026-09-14
Central bank data show that corporate loans increased by 260 billion yuan in August, of which short-term loans decreased by 160 billion yuan and medium- and long-term loans increased by 320 billion yuan, below the level of 470 billion yuan in new medium- and long-term loans in August last year.
2026-09-14
Central bank data show that household loans recorded a cumulative net decrease of 1.03 trillion yuan in the first 8 months of 2026, compared with a net increase of 711 billion yuan in the same period of 2025, as household sector credit swung from positive to negative.
2026-09-14
Financial data for August released by the central bank on September 14 showed that the year-on-year growth of the RMB loan balance fell to 4.9%, the lowest value since statistics began.
2026-09-14
Aggregate financing in August was 1.66 trillion yuan, down 35% year on year, of which net government bond financing was 1.01 trillion yuan, accounting for 60.8%, while RMB loans to the real economy were only 60 billion yuan, or 3.6%.
2026-09-14
Central bank data show that household deposits increased by 6.99 trillion yuan in the first 8 months of 2026, 2.78 trillion yuan less than in the same period a year earlier; over the same period, household loans decreased by a net 1.03 trillion yuan, and the household sector's overall balance sheet shrank by about 8 trillion yuan.
2026-09-14
In the first 8 months, direct financing totaled 12.03 trillion yuan, accounting for 50.31% of aggregate social financing; of this, government bonds were 8.77 trillion yuan, accounting for 72.9%, corporate bonds were 2.79 trillion yuan, accounting for 23%, and equity financing was only 470 billion yuan, just 3.9%.
2026-09
In 2026, the central bank has neither cut the reserve requirement ratio nor lowered interest rates. The 7-day reverse repo rate of 1.4% and the LPR (1-year at 3%, 5-year at 3.5%) have gone unadjusted for 16 consecutive months since May 2025.
2026-09
Since 2026, more than 400 village and town banks have exited, in addition to 312 high-risk institutions flagged in red by the central bank's financial stability department, involving assets of 9.4 trillion yuan, concentrated in rural small and medium-sized banks such as rural commercial banks.
2026-09
From January to September 2026, the central bank net bought government bonds each month in the secondary market, totaling about 400 billion yuan, with June's 10 billion yuan being the lowest since bond buying resumed in October 2025; it has not sold any government bonds this year, and the last sale through securities lending was in July 2024.
2026-09
China's 10-year government bond yield peaked at 1.9% in January, fell to a low of 1.675% on August 14, and averaged around 1.7% in September. For the full year, it fluctuated by only about 25 basis points, holding in a sideways range under the central bank's guidance.
2026-08-28
On August 28, 2026, the People’s Bank of China and the National Financial Regulatory Administration jointly issued new real estate credit policy rules, officially extending the maximum term of personal housing loans from 30 years to 40 years, sparking widespread public debate.
2026-08-12
The report on the implementation of monetary policy for the second quarter, released by the People's Bank of China on August 12, proposed downplaying attention to lending as a single financing channel and instead observing lending together with bond financing; the statement was criticized as glossing over the stagnation of private credit.
2026-08
China’s central bank and the financial regulator issued Document No. 171, allowing borrowers who cannot repay to defer payments, extend loan terms, or directly delay principal repayment, with extensions capped at half of the original loan term.
2026-08
The People's Bank of China announced the issuance of commemorative coins for the 100th anniversary of Jiang Zemin's birth, sparking speculation outside about the authorities using Jiang Zemin's legacy to appease public sentiment and political maneuvering within the party.
2026-08
In August 2026, the People’s Bank of China released financial data showing that the month’s nationwide new RMB loans were only 60 billion yuan, far below the market expectation of 4,040 billion yuan. In the first eight months, nationwide new loans totaled 10.44 trillion yuan, nearly 3 trillion yuan less year‑on‑year. Government bonds accounted for 1.01 trillion yuan of the total 1.66 trillion yuan of financial involvement in society, a year‑on‑year plunge of 35%, while corporate and household loans shrank sharply.
2026-07-15
In the first half of the year, China's aggregate financing to the real economy increased by 20.84 trillion yuan, 2.02 trillion yuan less than the same period last year; new RMB loans in June alone were 1.61 trillion yuan, more than 600 billion yuan less than the same period last year.
2026-07-06
The People's Bank of China announced and carried out one trillion yuan of outright reverse repo operations, with terms of three months and 91 days, which was described as a financial stability-maintenance measure in response to the wave of takeovers of small and medium-sized banks.
2026-07-04
The quarterly meeting of the Monetary Policy Committee of the People's Bank of China adjusted the economic tone from "steady progress" to "toward the new, toward the better," and listed structural optimization as one of the challenges facing the economy.
2026-07
Data show that medium- and long-term loans to Chinese enterprises have declined for two consecutive months, a situation said to be the first since relevant data became available in 2013.
2026-06-29
The People's Bank of China injected 300 billion yuan in temporary overnight reverse repos, but did not disclose the interest rate for the operation.
2026-06-12
On June 12, 2026, the People's Bank of China released a financial statistics report showing that by the end of May, the balance of Chinese government bonds reached 100.6 trillion yuan, up 15.1% year on year, with the bond balance doubling within five years.
2026-06
In June 2026, the CCP central bank began restricting banks from buying bonds.
2026-06
The People's Bank of China has increased its gold reserves for 19 consecutive months, contrasting with falling market prices, indicating official preference for gold.
2026-05-28
On May 28, 2026, Reuters reported, citing people familiar with the matter, that because lending fell in April and demand remained weak in May, the People's Bank of China has issued informal guidance to some large state-owned banks, asking them to increase credit provision.
2026-04
By April 2026, the overnight reverse repo acting as a buffer water tower will have less than 200 million remaining, nearly wiping it out. The Ministry of Finance's withdrawal of funds will directly drain bank reserves.
2026
China's central bank has issued a trillion-level buyout reverse repo for the third time this year to cope with the rapid spread of financial risks.
2025-10
The People's Bank of China has officially unveiled its master console, centralizing eight major authorities—including currency issuance, wallet management, risk control, and smart contracts—under the central bank. It has also connected thirty commercial banks directly to the system, building a super-console capable of reaching into individual wallets.
2025
In 2025 alone, 394 banking institutions were dissolved, and the number of institutions participating in deposit insurance dropped by 649, leaving just over 3,100; between 2024 and 2025, nearly 550 banks exited, exceeding the total of the previous seven years.
2024-10-14
Data released by the People's Bank of China shows that the balance of M0 cash in circulation at the end of September was 15.02 trillion yuan, a year-on-year increase of 10.6%. Throughout last year, the M0 growth rate remained stable between 10% and 12%, indicating that despite the widespread adoption of QR code payments, the amount of cash held by the public continues to grow at a double-digit rate.
2020-08-20
On August 20, 2020, the Ministry of Housing and Urban-Rural Development and the People's Bank of China held a symposium for key real estate enterprises, proposing the "three red lines" to restrict the growth of interest-bearing liabilities of real estate companies based on the asset-liability ratio excluding advance receipts, the net gearing ratio, and the cash-to-short-term debt ratio.
2019-05-24
After being taken over in 2019, Baoshang Bank announced bankruptcy. The top cause of death was that more than 150 billion yuan occupied by Tomorrow Group shareholders was essentially all lost; personal deposits were fully protected, large interbank claims were covered at an average of about 90 percent, and 6.5 billion yuan in Tier 2 capital bonds was written down in full.
1995
In 1995, the Law on the People's Bank of China and the Commercial Bank Law were passed, marking the initial establishment of China's modern financial framework.
1994-01-01
On January 1, 1994, the official and market exchange rates of the Renminbi were merged, forming a unified exchange rate.