The central bank: In the next stage, we must accelerate the construction of a comprehensive macro-prudential management system.

The central bank released the first quarter report on the implementation of China's monetary policy in 2026, mentioning that in the next stage, it is necessary to accelerate the construction of a comprehensive macro-prudential management system. First, strengthen the coordinated cooperation of the "twin pillar" regulatory framework. Grasp the macro-prudential policy and monetary policy with macro attributes and countercyclical adjustment functions, each with a focus, closely linked, and mutually complementary relationship positioning, and improve the "twin pillar" regulatory framework. Strengthen the macro-prudential policy pillar, prevent and resolve risks that may have systemic impacts in advance, create space for the implementation of monetary policy, and form a "twin pillar" macro-control force. Second, improve the macro-prudential management mechanism. Combine the formulation and revision of key laws in the financial sector to implement the macro-prudential management responsibilities of the People's Bank of China. Improve the working mechanism of the macro-prudential and financial stability committee, plan and implement major macro-prudential and financial stability issues, continuously optimize the macro-prudential policy system, and enhance the scientificity of risk identification and the precision, effectiveness of policy implementation. Third, consolidate the macro-prudential monitoring and evaluation mechanism. Continuously improve the monitoring framework, enrich evaluation tools, strengthen the use of monitoring results, and enhance risk warnings. It is necessary to systematically grasp the trend of financial risk evolution, guide financial institutions to actively correct their behaviors, and prevent or weaken risk accumulation and transmission. Fourth, enrich the macro-prudential policy toolbox, and continuously improve macro-prudential management in key areas. Based on the development stage and characteristics of China's financial system, changes in sources of systemic risks, gradually expand the scope of macro-prudential management, enrich and improve macro-prudential policy tools in a timely manner according to the situation, enhance scientificity and effectiveness. Strengthen additional supervision of systemically important banks, steadily expand the scope of additional supervision. Do a good job in the macro-prudential management of cross-border capital flows to maintain orderly cross-border capital movements. Establish a sound macro-prudential management framework for financial markets, large platforms, and other areas.