Forum | PBoC's Pan Gongsheng: Using Multiple Tools to Maintain Ample Liquidity

SighingCashier

2026-03-22 05:58:19

Abstract generation in progress

The Governor of the People’s Bank of China, Pan Gongsheng, stated at the 2026 China Development High-Level Forum that the country will continue to implement a moderately loose monetary policy.

Pan also mentioned that a variety of monetary policy tools, including reserve requirement ratios, policy interest rates, and open market operations, will be used comprehensively to maintain ample liquidity.

Additionally, Minister of Finance Lan Fuan said at the forum that fiscal policy will place greater emphasis on investing in people. The government will increase investments in human capital. During the 14th Five-Year Plan period, fiscal and social welfare expenditures approached 100 trillion RMB, accounting for over 70% of fiscal spending, helping to build the world’s largest education system, social security system, and healthcare system.

Lan Fuan stated that over the next five years, the government will continue to do its best and act within its capacity, further increasing efforts to ensure and improve people’s livelihoods, reasonably raising the proportion of public service spending in fiscal expenditure, and increasing government investment in livelihood-related areas.

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