The People's Bank of China: Will solidly carry out the five major tasks of financial work.

The report released by the People's Bank of China on November 11th shows that by the end of September, the balance of structural monetary policy tools supporting the implementation of the "Five Major Tasks" in finance reached 3.9 trillion yuan. In the next stage, the People's Bank of China will fully utilize the guiding role of monetary and credit policies and solidly implement the "Five Major Tasks" in finance. The quarterly Chinese monetary policy execution report for the third quarter of 2025 released by the People's Bank of China shows that in the third quarter, the People's Bank of China effectively implemented various structural monetary policy tools and vigorously promoted technology finance, green finance, inclusive finance, pension finance, and digital finance. By the end of September, technology loans, green loans, inclusive loans, pension industry loans, and digital economy industry loans increased by 11.8%, 22.9%, 11.2%, 58.2%, and 12.9% respectively compared to the previous year, all higher than the growth rate of total loans. Taking technology finance as an example, under the financial policy guidance of technology innovation, and technology transformation refinancing and the "Technology Board" in the bond market, the intensity of financing support in the technology finance sector continues to increase. The report shows that by the end of September, the proportion of new technology loans to all new loans was 30.5%; the balance of technology loans for technology-based small and medium-sized enterprises was 3.6 trillion yuan, an increase of 22.3% year-on-year; the amount of technology innovation and technology transformation loan contracts was 2.6 trillion yuan, and the loans granted were 1.1 trillion yuan; 277 entities have issued innovative technology bonds on the interbank bond market with a total of 669.1 billion yuan. Experts point out that the People's Bank of China's structural monetary policy tools mainly incentivize and guide financial institutions to support key areas and weak links of national major strategies and economic and social development. In these areas, the initial social willingness to invest is relatively low, and it requires the central bank's funding to enter first and play a guiding role. The report introduces that in the next stage, the People's Bank of China will solidly implement the "Five Major Tasks" in finance and support key areas and weak links of national major strategies and economic and social development. It will continue to optimize and effectively utilize monetary policy tools that support technology innovation, strengthen policy guidance for the development and utilization of data in the technology finance sector, and accelerate the construction of a technology finance system that is in line with technology innovation.