At an Aug 4 H2 2026 meeting, the PBOC Shanghai headquarters said it will firmly
implement an appropriately loose monetary policy and press financial
institutions to more actively tap effective credit demand. It will deploy
structural monetary-policy tools, support a Shanghai bond market technology
board, and steadily deepening financial reform and opening, including improving the
FX management framework and advancing cross-border trade financing, overseas
lending and overseas listing policies. The HQ urged stronger SME FX-hedging
capacity, coordination of cross-border and offshore finance with accelerated
pilots for offshore business reform, and faster digital adoption and
ecosystem building. It also prioritized strengthening macroprudential
frameworks, systemic risk prevention and cross-border risk monitoring, and
cracking down on illegal financial activity.
