The central bank: Chinas economic high-quality development has achieved new results, with sustained momentum and a more solid intrinsic support for long-term economic improvement.

The central bank has released the monetary policy implementation report for the second quarter of 2026. The current external environment is increasingly complex and changeable, with weak momentum in global economic growth, frequent occurrences of geopolitical conflicts and trade frictions, ongoing supply shocks and imported inflation pressures, and elevated global inflation levels. Major economic powers are adjusting their monetary policies. Chinas high-quality economic development has achieved new results, with sustained increase in potential and a more solid internal support for long-term positive trends in the economy. The advantages of our institutional framework and being a major power are continually emerging. We must strengthen our confidence, maintain strategic determination for high-quality development, and effectively consolidate and expand the stable and improving economic situation. In the next phase, the Peoples Bank of China will adhere to the guidance of Xi Jinping's Thought on Socialism with Chinese Characteristics for a New Era, comprehensively implement the spirit of the 20th CPC Central Committees Fourth Plenary Session, the Central Economic Work Conference, and the National Two Sessions. We will firmly grasp the primary task of high-quality development, solidly advance Chinese-style modernization, adhere to the general tone of seeking progress while maintaining stability, fully and accurately implement the new development philosophy, fully leverage the effectiveness of existing policies, and timely plan and introduce practical and usable new policies. We will strengthen counter-cyclical adjustments, enhance domestic demand, optimize supply, and promote continuous, favorable, and high-quality economic development. We will unswervingly follow the path of financial development with Chinese characteristics, further deepen financial reform and high-level opening-up, accelerate the construction of a strong financial nation, improve the central bank system, build a scientific and sound monetary policy system and a comprehensive macro-prudential management system, and smooth out the transmission mechanism of monetary policy.