On January 10, the People's Bank of China renewed a bilateral local currency swap agreement with the Bank of Canada, totaling 200 billion yuan.

On January 15, the central bank issued a notice to reduce the interest rates on relending and rediscounting by 0.25 percentage points, effective January 19. Following the adjustment, the rates for 3-month, 6-month, and 1-year agricultural and small-enterprise relending were set at 0.95%, 1.15%, and 1.25%, respectively, while the rediscount rate became 1.5%. The pledged supplementary lending rate was adjusted to 1.75%, and the rate for targeted structural monetary policy tools stood at 1.25%.

On the same day, the central bank decided to increase the quota for agricultural and small-enterprise relending by 500 billion yuan, allowing the relending and rediscount quotas to be used interchangeably. Additionally, the quota for technology innovation and transformation relending was raised by 400 billion yuan, bringing the total to 1.2 trillion yuan. The policy support scope was expanded from 2026 to include private small and medium-sized enterprises with high research and development investment.

On January 16, the People's Bank of China, together with the National Financial Regulatory Administration, issued a notice adjusting the minimum down payment ratio for commercial housing purchase loans to no less than 30%.

On January 20, the central bank authorized the National Interbank Funding Center to publish the Loan Prime Rate, with the 1-year LPR at 3.0% and the over-5-year LPR at 3.5%, both unchanged from previous levels. The same day, a memorandum of cooperation was signed with the Central Bank of Sri Lanka to establish a renminbi clearing arrangement in Sri Lanka.

On January 27, the People's Bank of China reported to the National People's Congress Financial and Economic Affairs Committee on the implementation of monetary policy in 2025. It also issued a notice to optimize the management of the carbon emission reduction facility, expanding its support to include projects with direct carbon reduction effects, such as energy-saving renovations, green upgrades, and energy green low-carbon transformation. Furthermore, a notice was issued to establish a private enterprise relending facility under the existing agricultural and small-enterprise relending framework, with a quota of 1 trillion yuan, to guide local financial institutions in increasing support for private small and micro enterprises.

On January 29, the central bank authorized the London branch of Bank of China Limited to serve as the renminbi clearing bank in the United Kingdom.

On February 13, the People's Bank of China and the National Financial Regulatory Administration released the list of systemically important banks in China for 2025. They also jointly issued, with the China Securities Regulatory Commission and the Ministry of Agriculture and Rural Affairs, opinions on establishing a normalized financial support mechanism to prevent a return to poverty and promote comprehensive rural revitalization.

On February 24, the LPR was published again, with the 1-year rate at 3.0% and the over-5-year rate at 3.5%, both unchanged.

On February 26, the central bank authorized the Colombo branch of Bank of China Limited to act as the renminbi clearing bank in Sri Lanka. It also issued a notice on cross-border interbank renminbi financing business, supporting domestic banks in conducting such business with overseas institutions to develop the offshore renminbi market and improve macro-prudential management of cross-border capital flows.

On March 17, the People's Bank of China issued a notice on carbon accounting for the investment and financing activities of banking institutions, establishing a work system to guide financial institutions in conducting high-quality carbon accounting.

On March 20, the LPR remained unchanged at 3.0% for the 1-year and 3.5% for the over-5-year terms. The same day, the central bank and the State Administration of Foreign Exchange issued measures for overseas lending by domestic enterprises, further supporting and regulating such activities.

On March 26, the Monetary Policy Committee of the People's Bank of China held its first-quarter meeting for 2026.

On April 11, the central bank and the foreign exchange administration issued a notice adjusting the overseas loan business of banking institutions.

On April 16, the People's Bank of China reported to the National People's Congress Financial and Economic Affairs Committee on the implementation of monetary policy in the first quarter of 2026.

On April 20, the LPR was published, with both the 1-year and over-5-year rates unchanged at 3.0% and 3.5%, respectively.

On April 29, the central bank, together with the National Development and Reform Commission and the Ministry of Finance, issued a notice on expanding the issuance of technology innovation and transformation loans to further support equipment upgrades.

On May 20, the LPR remained unchanged, with the 1-year rate at 3.0% and the over-5-year rate at 3.5%.

On May 28, the People's Bank of China renewed a bilateral local currency swap agreement with the National Bank of Serbia, totaling 5 billion yuan or 74 billion Serbian dinars.

On June 3, the central bank renewed a bilateral local currency swap agreement with the Central Bank of Egypt, amounting to 30 billion yuan or 203 billion Egyptian pounds.

On June 8, the People's Bank of China renewed a bilateral local currency swap agreement with the Bank of the Lao PDR, totaling 6 billion yuan or 19.5 trillion Lao kip.

On June 11, a memorandum of cooperation was signed with Bank Indonesia to establish a renminbi clearing arrangement in Indonesia.

On June 15, the central bank, together with the National Financial Regulatory Administration and the All-China Women's Federation, issued implementation opinions on further strengthening financial support for women's employment and development.

On June 17, the People's Bank of China announced an optimization of the elements for temporary open market operations, adjusting the operation time to 15:00-15:30 and setting the operation interest rate as the 7-day reverse repo rate minus 25 basis points and plus 25 basis points. The trigger conditions for the tool were also further clarified. On the same day, the central bank announced that, to support the high-level opening of China's financial market and facilitate the renminbi liquidity management of overseas central bank-type institutions, it would provide renminbi liquidity to eligible overseas central bank-type institutions through a repurchase facility.

On June 22, the LPR was published, with the 1-year rate at 3.0% and the over-5-year rate at 3.5%, both unchanged.

On June 25, the central bank decided to authorize Standard Bank of South Africa Limited and Industrial and Commercial Bank of China Limited to act as joint renminbi clearing banks for Africa. It also authorized the Jakarta branch of Bank of China (Hong Kong) Limited to serve as the renminbi clearing bank in Indonesia.

On June 26, the People's Bank of China renewed a bilateral local currency swap agreement with the Bank of Mongolia, totaling 15 billion yuan or 7.85 trillion Mongolian tugrik.

On June 29, the central bank added an overnight reverse repo operation to its open market operations for the first time, using a fixed rate and quantity-based bidding.

On July 4, the Monetary Policy Committee of the People's Bank of China held its second-quarter meeting for 2026.