The meeting emphasized the need to advance risk resolution for small and medium financial institutions with strength, order, and effectiveness. Efforts should focus on addressing existing risks while resolutely curbing the emergence of new risks, firmly holding the bottom line to prevent "explosions."
It called for rigorous prevention and mitigation of risks in related sectors. The urban real estate financing coordination mechanism should be normalized to help establish a new model for real estate development.
A strong and strict regulatory atmosphere is gradually taking shape.
Comprehensive measures should be employed to guide industry reform and transformation.
Precise and effective support is needed to stabilize and improve the economy. On January 15, the National Financial Regulatory Administration convened its 2026 regulatory work conference to thoroughly implement the decisions of the Party Central Committee and the State Council, systematically review the work of 2025, and coordinate key tasks for 2026. Li Yunze, Party Secretary and Administrator of the Administration, attended and delivered a speech, with all members of the Party Committee present.
The meeting noted that in 2025, the regulatory system focused on preventing risks, strengthening supervision, and promoting high-quality development. It tackled challenges head-on with solid work, firmly held the bottom line against systemic financial risks, and achieved positive progress across various tasks. Unwavering efforts were made to advance full and rigorous Party discipline. The "first议题" system was strictly implemented, with in-depth study and dissemination of the spirit of the Fourth Plenum of the 20th Central Committee. Central inspection rectifications were rigorously advanced, and thorough education on implementing the Central Eight-Point Directive was carried out.
Significant progress was made in the orderly prevention and resolution of key risks. Reform and risk mitigation for small and medium financial institutions achieved major breakthroughs. The urban real estate financing coordination mechanism was expanded and enhanced. Active support was provided for the succession, replacement, and restructuring of operational financial debts of financing platforms. Mechanisms for preventing and cracking down on illegal fundraising achieved full coverage at the provincial, city, and county levels.
A strong and strict regulatory atmosphere is gradually taking shape. The financial regulatory legal framework was accelerated. Violations and irregularities were severely punished, with joint efforts from public security departments to crack down on "black and gray industries" in finance.
Comprehensive measures guided industry reform and transformation. Continuous progress was made in the insurance sector's "reporting-compliance integration" and adjustments to predetermined interest rates, while efforts intensified to improve the quality and efficiency of the banking sector. Support was provided for financial institutions to replenish capital through multiple channels.
Precise and effective support stabilized and improved the economy. Policies for ultra-long-term loans were introduced to serve the "two major projects." Support mechanisms for small and micro-enterprise financing were deepened. The "four pilot projects" in sci-tech finance progressed steadily. The insurance sector further served as an economic shock absorber and social stabilizer.
The meeting stressed that 2026 marks the beginning of the 15th Five-Year Plan period. The entire system must be guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, fully implement the spirit of the 20th National Congress and its plenary sessions, and act in accordance with the Central Economic Work Conference, the Central Financial Work Conference, the Fifth Plenary Session of the 20th Central Commission for Discipline Inspection, and the National Financial System Work Conference. It must fully, accurately, and comprehensively implement the new development philosophy, adhere to the general principle of seeking progress while maintaining stability, and steadfastly follow the path of financial development with Chinese characteristics. Establishing and practicing a correct view of political achievement is crucial to coordinating efforts in risk prevention, regulatory strengthening, and promoting high-quality development, thereby helping to start the 15th Five-Year Plan period strongly.
The meeting required a genuine enhancement of political stance, strengthened sense of responsibility, proactive action, and forward planning to solidly promote greater effectiveness in regulatory work. This includes advancing risk resolution for small and medium financial institutions with strength, order, and effectiveness, focusing on addressing existing risks, resolutely curbing new risks, and firmly holding the bottom line against "explosions."
It also entails rigorous prevention and mitigation of risks in related sectors, normalizing the urban real estate financing coordination mechanism to help build a new model for real estate development, supporting the resolution of financing platform debt risks in accordance with laws and regulations, and strictly preventing, cracking down on, and punishing illegal financial activities.
Efforts must be made to substantially improve the industry's capacity for high-quality development. This involves sound planning, prudent advancement of reducing the number while improving the quality of small and medium financial institutions, and rationally optimizing their layout. Deep rectification of disorderly competition and continuous standardization of industry order are needed. Banks and insurance institutions should be urged to focus on their main businesses and develop with differentiated positioning. High-level financial opening-up should be promoted.
Comprehensive strengthening and improvement of financial supervision are essential. Focus should be on substantive risks and solving practical problems, continuously strengthening the "five major supervisory aspects," enhancing law-based regulatory capacity, and implementing categorized and tiered supervision effectively. The design and construction of the "Golden Supervision Project" should be accelerated. Responsibilities for coordinating financial consumer protection must be solidly fulfilled. The overall effectiveness of the "four-level vertical management" should be leveraged efficiently. Active participation in international financial governance reform is also important.
Continuous improvement in the quality and effectiveness of financial services for the economy and society is required. This includes excelling in the "five major financial tasks," closely combining investment in physical assets and human capital, and persistently increasing support for major strategies, key areas, and weak links. Financial supply for promoting consumption and expanding investment should be strengthened to efficiently serve the strategy of expanding domestic demand. Sci-tech financial services should be optimized, patient capital actively cultivated to aid the development of new productive forces. Financial support for emergency disaster relief, elderly care and health, and comprehensive rural revitalization in livelihood areas must be enhanced. The role of the coordination mechanism for small and micro-enterprise financing should be better utilized, financial services for new employment groups optimized, and efforts focused on stabilizing enterprises and employment.
The meeting emphasized that political construction of the Party must be given top priority, with strengthened centralized and unified leadership of the Party Central Committee over financial work. A deep understanding of the decisive significance of the "two establishments" and resolute adherence to the "two safeguards" are crucial. Efforts should focus on using the Party's innovative theories to forge souls and build cohesion. A regular long-term mechanism for central inspection rectifications should be健全. Party organization building at all levels of the system must be strengthened to effectively enhance political functionality and organizational capacity.
A loyal, clean, and responsible regulatory team must be forged, seriously implementing the Party's organizational line for the new era and comprehensively strengthening the construction of leading bodies and cadres within the system. The in-depth implementation of the "Four New Projects" expansion and deepening year action should be advanced. Persistent efforts in improving conduct, enforcing discipline, and combating corruption are needed, integrating the punishment of financial corruption with the prevention of financial risks, and maintaining a high-pressure stance without wavering. Mechanisms for supervising and constraining power operations should be continuously健全, with intensified warning education. Continuous deepening of the rectification of the "four forms of decadence" and consolidation of the results from the in-depth education on implementing the Central Eight-Point Directive are essential.
The meeting also made arrangements for ensuring security, stability, and financial services during the year-end and beginning-of-year period. Relevant comrades from the Central Organization Department, Central Financial and Economic Affairs Commission, Central Financial Commission, General Office of the State Council, Ministry of Finance, National Audit Office, and other units were invited to attend. Comrade Zhu Shumin, various chief officers, responsible comrades of the discipline inspection and supervision team stationed at the Administration, main responsible comrades of various local financial regulatory bureaus, responsible comrades of departments, directly affiliated units, and the Financial Trade Union within the agency, and main responsible comrades of units managed by the Administration attended the meeting.