Central Bank: Strengthen the implementation and supervision of interest rate policies, promote the low operation of overall social financing costs.

The People's Bank of China released the fourth quarter of 2025 report on the implementation of China's monetary policy. It proposed further improving the interest rate regulation framework, strengthening the central bank's policy interest rate guidance, perfecting the market-based interest rate formation and transmission mechanism, utilizing the self-regulation mechanism of market interest rate pricing, enhancing interest rate policy implementation and supervision, reducing bank liability costs, and promoting the low-level operation of social comprehensive financing costs. It will systematically expand the coverage of explicit corporate loan comprehensive financing cost work. It will effectively implement various structural monetary policy tools and actively implement various structural monetary policy tools, solidly carry out the "Five Major Financial Tasks," and strengthen financial support for key areas such as expanding domestic demand, technological innovation, and small and micro enterprises.