FINANCE

China’s Central Bank Vows to Guard Against Global Shock Spillovers

Published: Mar. 6, 2026 6:50 p.m. GMT+8

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Pan Gongsheng. Photo: Xinhua

China’s central bank will seek to prevent global shocks from spilling into its financial system, Governor Pan Gongsheng said Friday, citing rising geopolitical tensions and uncertainty over monetary policy in major advanced economies.

Speaking at a press conference during the annual meeting of China’s top legislature, Pan said containing external spillover risks is one of the People’s Bank of China’s (PBOC) key priorities for safeguarding financial stability this year.

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The PBOC aims to prevent global shocks from affecting China's financial system, citing geopolitical tensions and monetary policy uncertainties.
The central bank will use macroprudential tools to manage external risks and maintain yuan stability, emphasizing no intent to weaken the currency for trade.
Domestically, efforts include supporting nonbank financial institutions and addressing risks from smaller banks and local government financing vehicles.

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