The 2026 People's Bank of China (PBOC) Work Conference was held on January 5–6. The meeting emphasized continuing to implement a moderately loose monetary policy, leveraging the synergistic effects of both new and existing policies, strengthening countercyclical and cross-cyclical adjustments, and improving the quality and efficiency of financial services in supporting the high-quality development of the real economy.deepen financial reforms and advance higher-level opening-up; enhance the foresight, precision, and coordination of macroeconomic policies; focus on expanding domestic demand and optimizing supply; prevent and defuse risks while stabilizing social expectations; create a favorable monetary and financial environment for stable economic growth, high-quality development, and the stable operation of financial markets; and provide strong financial support for a solid start to the 15th Five-Year Plan.