PBOC vice governor Lu Lei said the central bank will further refine and optimize a modern monetary policy framework with Chinese characteristics during the 15th Five-Year Plan period. The PBOC will firmly maintain currency value stability to support

2026-09-10

PBOC vice governor Lu Lei said the central bank will further refine and optimize a modern monetary policy framework with Chinese characteristics during the 15th Five-Year Plan period. The PBOC will firmly maintain currency value stability to support economic growth and effectively back high-quality development of the real economy. It will gradually de-emphasize quantity-based intermediate targets and place greater emphasis on interest-rate policy tools.