China's Central Bank Unveils 2026-2030 Reform Plan for Financial Opening-Up and Monetary Policy System

The People's Bank of China (PBOC) has released a comprehensive reform and development plan for the 2026-2030 period, aiming to accelerate the establishment of a strong financial sector and enhance the central banking system. Key measures include prudently advancing high-level financial opening-up, expanding the global use of the renminbi in international trade and investment, deepening two-way financial market access, and strengthening Shanghai and Hong Kong as international financial centers. The plan also outlines improvements to the modern monetary policy system, refining the base-money issuance mechanism, and enhancing market-based interest rate and exchange-rate determination.