China’s central bank unveiled six new financial policy measures on June 17, 2026, at the Lujiazui Forum in Shanghai, Governor Pan Gongsheng said. The steps include improving short-term interest rate regulation, launching a renminbi repo facility for foreign authorities, studying a liquidity tool for non-banks, piloting offshore RMB foreign exchange trading in the Shanghai free trade zone, issuing an offshore finance action plan with local government and launching an interbank market data reporting repository.
Pan Gongsheng said the People’s Bank of China will work to improve the short-term interest rate regulation mechanism as part of efforts to make policy implementation more effective. The governor announced the launch of a renminbi repo facility for foreign and international monetary authorities to facilitate greater global access to the currency. He added that the PBOC will study the establishment of a macro-prudential liquidity support tool for non-bank financial institutions under specific circumstances. The measures were detailed during the governor’s speech at the opening of the two-day forum.
The central bank will pilot offshore renminbi foreign exchange trading in the Shanghai free trade zone, according to Pan. It will also jointly issue an action plan for developing offshore finance in Shanghai with the local government. Pan said the PBOC will officially launch an interbank market data reporting repository to collect and analyze transaction data from bond, currency, derivatives and other interbank markets. These elements complete the package of six initiatives unveiled at the event.
The announcements build on the monetary stimulus package rolled out in September 2024, which featured rate cuts, targeted support for the property sector and two new monetary policy tools designed to stabilize markets, a Centre for Economic Policy analysis found. That earlier package signaled a commitment to addressing both cyclical and structural economic challenges through expanded policy instruments. The latest steps continue this trajectory of adaptive monetary adjustments, the analysis indicated.
Pan’s address at the Lujiazui Forum, one of China’s leading annual financial conferences, emphasized collaboration to advance reforms and opening-up. Xinhua reported that the governor’s remarks focused on strengthening financial infrastructure while supporting the international use of the renminbi. The forum has long provided a platform for senior officials to present major policy directions to domestic and global audiences.
The new renminbi repo facility and offshore trading pilot align with sustained efforts to expand the currency’s cross-border role and elevate Shanghai as a global financial hub. Pan noted that the joint action plan with Shanghai authorities will outline concrete steps for offshore finance development. The interbank data repository launch is intended to enhance oversight through systematic collection of high-frequency market information.
