The Central Bank releases the report on the implementation of China's monetary policy for the first quarter of 2026.

It is mentioned that the effects of moderately loose monetary policy continue to show. The total financial volume grows reasonably, with the stock of social financing and broad money supply at the end of March increasing by 7.9% and 8.5% respectively year-on-year, indicating relatively loose social financing conditions. The overall social financing cost is at a historically low level, with new corporate loan rates and personal housing loan rates around 3.1% in March. The credit structure continues to be optimized, with technology loans, green loans, inclusive loans, elderly care industry loans, and digital economy industry loans growing by 13.7%, 17.6%, 10.5%, 26.3%, and 22.4% respectively at the end of March compared to the previous year, all maintaining double-digit growth rates, which remain higher than overall loan growth rates. The foreign exchange market supply and demand are basically stable, with the RMB exchange rate fluctuating in both directions and remaining basically stable at a reasonable equilibrium level. At the end of March, the closing price of the RMB against the US dollar was 6.9081, a slight increase of 1.2% from the end of the previous year, and the Chinese Foreign Exchange Trading Center RMB exchange rate index was 100.87, an increase of 2.9% from the end of the previous year.