The Governor of the Central Bank, Pan Gongsheng, announced the upcoming policy measures at the 2026 Shanghai Lujiazui Finance & Trade Zone Development Forum.

On June 17th, the official WeChat account of the People's Bank of China stated that the Governor of the People's Bank of China, Pan Gongsheng, attended the 2026 Shanghai Lujiazui Finance & Trade Zone Development Forum and announced upcoming policy measures. One of the measures proposed is to improve the short-term interest rate control mechanism. On one hand, based on the establishment of temporary overnight reverse repurchase tools in July 2024, the mechanism for using these tools will be improved, and the operating rate will be adjusted by 25 basis points from the 7-day reverse repurchase operation rate, narrowing the range from 70 basis points to 50 basis points. On the other hand, the open market operation toolbox will be further enriched by adding overnight reverse repurchase operation varieties in a timely manner to better match the short-term liquidity needs of the banking system. This article is selected from the "People's Bank of China" WeChat account. Editor: Feng Qiuyi.