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USD/CNY Fixing Rate

This is the People's Bank of China's standing explanation of how the daily USD/CNY central parity rate (the 'fixing') is calculated, not a new rule. Each trading day, the China Foreign Exchange Trade System surveys market makers, discards the highest and lowest quotes, and takes a volume-weighted average of the rest. A 'counter-cyclical factor' was added to the quoting model to dampen sentiment-driven swings and keep the fix closer to economic fundamentals. The page matters mainly as background on how China manages its currency, since the fix sets the reference point for onshore trading and daily RMB moves.

China’s Macroprudential Management System: Development Practice and Future Evolution-Keynote Speech by Governor Pan Gongsheng at the Annual Conference of Financial Street Forum 2025

PBOC Governor Pan Gongsheng used a keynote speech at the 2025 Financial Street Forum to lay out how China will build a comprehensive macroprudential management system under the 15th Five-Year Plan, while confirming the monetary stance stays accommodative. He also said the PBOC will resume buying and selling government bonds in the open market, keep cracking down on virtual-currency speculation and take a cautious watch-and-assess approach to overseas stablecoins, and roll out a one-time personal credit-record relief policy for pandemic-era small defaults that have been repaid. The speech signals direction rather than imposing new binding rules today, but it tells banks, insurers, brokers and fintech firms where supervision is heading.

China launches platform to provide cross-border legal services

China's Ministry of Justice has launched Fatong, a national online platform that gives Chinese companies and citizens doing business overseas one place to find foreign laws, country-by-country legal guides, case examples and legal consultations. The platform, which began trial operations on July 1, covers 187 countries and offers both an AI assistant and human professional review of legal questions. It matters because Chinese firms expanding abroad face rising legal and compliance risk, and Beijing is now providing state-backed legal support infrastructure. This is a service launch, not a new rule — it creates no new compliance obligations for companies.

China's central bank announces enhanced financial support for economy

China's central bank is making credit cheaper and more abundant for targeted parts of the economy. It cut the interest rate on its Pledged Supplementary Lending (PSL) facility from 1.75% to 1.5%, widened the projects that PSL can fund to include the "six networks" infrastructure build-out, and raised relending quotas for sci-tech firms, agriculture, small businesses and private companies by a combined hundreds of billions of yuan. Separately, the finance ministry, PBOC and banking regulator will start one-year interest subsidies on housing loans from October 1, 2026. The moves matter because they lower borrowing costs and expand available credit for banks and their corporate borrowers without a broad, headline rate cut.

Foreign Exchange Receipts and Payments Data for the First Half of 2026 — Press Conference Transcript

China's foreign exchange regulator, SAFE, held a press conference to report first-half 2026 balance-of-payments data. Cross-border receipts and payments hit a record USD 9.2 trillion (up 21% year-on-year), with a net cross-border capital inflow of USD 247.2 billion and foreign exchange reserves rising to USD 3.4163 trillion. SAFE also signalled a forthcoming third annual package of cross-border investment and financing facilitation measures — including simpler direct-investment procedures, a nationwide green external debt pilot, and greater delegation of capital-account registration to banks — but no rules were issued in this document. Nothing in the transcript itself changes any filing, tax, or licensing obligation today.

Chinese premier chairs State Council executive meeting on macro policies, investment

Premier Li Qiang chaired a State Council executive meeting on September 28, 2026, that signaled stronger counter-cyclical macro policy and faster infrastructure investment to keep the economy on track for its 2026 growth target of 4.5–5 percent (H1 2026 growth was 4.7 percent). The meeting directed faster bond issuance and quicker project starts under the 15th Five-Year Plan and the "six networks" build-out, plus more relending support for tech upgrading, agriculture, and small businesses. It also flagged pending policies to stabilize real estate and boost employment and income, and approved in principle a draft regulation on public institution registration. This is a policy signal, not a binding rule — no immediate compliance obligations arise from it.