The 2026 Financial Street Forum annual meeting press conference was held on the afternoon of October 12 at the Information Office of the Beijing Municipal People's Government.
Officials from the PBOC General Administration Office, the National Financial Regulatory Administration General Administration Office, the China Securities Regulatory Commission General Administration Office, the Xinhua News Agency General Administration Office, the State Administration of Foreign Exchange Research Center, and the Xicheng District government briefed the media and answered questions.
Li Kexin, spokesperson for the People's Bank of China and deputy director of the General Administration Office, said the Financial Street Forum has become a bellwether for financial policy, a meeting place for international exchange, and an incubator for ideas and outcomes.
The PBOC places great importance on organizing and actively participating in the forum, he said.
In recent years, the central bank has established a credible, regular, and institutionalized policy communication mechanism to strengthen public communication, respond to concerns, and guide social expectations.
Last year, PBOC Governor Pan Gongsheng delivered a keynote speech at the forum, systematically explaining the practice and future evolution of China's macroprudential management system, which drew widespread attention.
This year, Governor Pan will again attend the opening ceremony and deliver a keynote speech, while other PBOC leaders and department heads will attend multiple forum events.
Where the PBOC's main forum focuses
The PBOC will host a main forum closely aligned with the 15th Five-Year Plan and new developments in the global economy and finance.
The theme is "Economic Governance, Financial Innovation and the Role of Central Banks in the Age of Artificial Intelligence."
Artificial intelligence is developing rapidly and has far-reaching implications for the macroeconomy and financial industry, making it a topic of common concern for central banks worldwide, Li said.
PBOC leaders will attend and deliver keynote speeches, and the central bank has invited heads and experts from domestic and international financial authorities, international organizations, and financial institutions.
These include the Bank for International Settlements, the Central Bank of Hungary, the Monetary Authority of Singapore, the Bank of Thailand, the Hong Kong Monetary Authority, China Construction Bank, Agricultural Bank of China, and HSBC Group.
All invited guests have confirmed their attendance.
Fintech conference expands
The PBOC and relevant Beijing municipal departments will jointly build the Fintech Conference and the Chengfang Fintech Forum into an authoritative platform for exchange and achievement releases in China's fintech sector.
This year, the Fintech Conference will further innovate its format and expand its scale, inviting the National Financial Regulatory Administration and the CSRC to participate and provide guidance.
Within the framework of the Fintech Conference, the PBOC will specifically host the Chengfang Fintech Forum under the theme "Moving Toward New Horizons, Leaping Toward Intelligence, Jointly Writing a New Chapter in Fintech Development."
A series of activities will be held, including a special dialogue on "Coordinating Development and Security, Comprehensively Deepening Financial Digital-Intelligent Transformation," during which multiple achievements will be released.
A seminar on "AI Financial Applications and Risk Prevention" will invite experts from financial institutions, large model companies, cybersecurity firms, and research institutes to share insights.
These events will also showcase the latest achievements in AI, quantum technology, and other digital-intelligent technologies empowering financial services.
In addition to the two PBOC-hosted events, the central bank will also hold activities including the Digital Yuan Annual Meeting.
Support for Beijing-Tianjin-Hebei innovation hub
Asked about PBOC progress in supporting the Beijing (Beijing-Tianjin-Hebei) International Science and Technology Innovation Center, Li said building a globally influential international science and technology innovation center is a major strategic task put forward by the CPC Central Committee.
The 2025 Central Economic Work Conference expanded the scope of the international science and technology innovation center from core cities such as Beijing to core regions including the Beijing-Tianjin-Hebei area, moving from single-point urban development to coordinated innovation across city clusters.
The PBOC is focusing on three areas to support the construction of the Beijing (Beijing-Tianjin-Hebei) International Science and Technology Innovation Center.
First, focusing on technological innovation
Science and technology finance is the first of the five major articles in finance.
In terms of monetary policy tools and credit support, the PBOC has leveraged both government and market forces, giving full play to the dual role of structural monetary policy tools in terms of aggregate and structure.
In 2024, it created relending for science and technology innovation and technological upgrading to guide financial resources toward technological innovation and support high-level self-reliance in science and technology.
This year, the central bank further optimized policy elements: on the quantity side, it increased the relending quota by 400 billion yuan in January and included private small and medium-sized enterprises with relatively high R&D investment in the supported areas.
On the price side, it lowered the relending rate from 1.5% to 1.25%.
In September, the PBOC again increased the relending quota by 200 billion yuan, bringing the total to 1.4 trillion yuan, and raised the support ratio from 60% to 100%, further incentivizing financial institutions to extend credit to key areas.
Data show that as of the end of August, the balance of science and technology loans grew 12.3% year on year, significantly higher than the growth rate of all loans, while the loan balance growth for technology-based SMEs has remained around 20% for three consecutive years.
In bond financing, the PBOC has provided greater support for technology-based enterprises and equity investment institutions to issue science and technology innovation bonds, creating synergy with the relending tool.
Since the policy was introduced in May last year, it has achieved relatively good results.
On that basis, the central bank further optimized the policy this year by merging the previously established private enterprise bond financing support tool and the science and technology innovation bond risk-sharing tool, providing a combined relending quota of 200 billion yuan.
Beijing has actively and efficiently used this policy, supporting 165 local Beijing enterprises in total, including promoting the issuance of the country's first batch of science and technology innovation bonds by private equity investment institutions and the first private enterprise science and technology innovation panda bond in the Beijing-Tianjin-Hebei region.
The PBOC will also strengthen the development and utilization of data in science and technology finance and the construction of data-sharing infrastructure to promote multi-dimensional data integration and sharing, providing information support for science and technology financial services.
Second, focusing on coordinated development
In 2016, the PBOC established a three-region coordination mechanism for the coordinated development of Beijing-Tianjin-Hebei to coordinate related work in the financial sector.
Over the past decade, it has played an important role in improving the policy framework, expanding financing in key areas, and optimizing financial services.
As of the first half of this year, the loan balance for major Beijing-Tianjin-Hebei coordinated development projects at major financial institutions in Beijing exceeded 860 billion yuan, including nearly 60 billion yuan in loans for key high-tech enterprises in the Beijing Municipal Administrative Center.
Next, the PBOC will further use the three-region coordination mechanism to continue promoting coordinated development in the region: first, PBOC branches in the three regions will jointly hold industry-finance matchmaking events to promote circular linkages among technology, industry, and finance.
Second, it will guide financial institutions to optimize products and services and support the Xiongan New Area in developing new quality productive forces in light of local conditions.
Third, it will strengthen the connection of financial services among the places where scientific and technological achievements are developed, pilot-tested, and commercialized, and deepen information sharing and financing matchmaking.
Third, focusing on financial reform
The Zhongguancun Science and Technology Finance Reform Pilot Zone is a highland for science and technology finance reform and innovation approved by the State Council and jointly established by nine departments including the PBOC.
Since its establishment more than three years ago, the PBOC and relevant departments have continued to explore and conduct pilot programs in key areas, achieving good results.
In terms of innovative products, the PBOC has guided commercial banks to develop financial products to support scientific and technological R&D and the commercialization of results.
Fifteen banks in Beijing have launched "transformation loans." For example, CITIC Bank's Beijing branch used its "scientific and technological achievement transformation loan" product to provide funding support for more than 100 transformation projects just emerging from laboratories.
In terms of institutional arrangements, the PBOC has led the specialized and professional development of science and technology finance.
Half of the commercial banks in Beijing have set up dedicated science and technology finance departments to support and promote related business; 60% to 70% of institutions have formulated special policies on due diligence exemption, loan quality tolerance, and incentive mechanisms; and more than 80% have established risk control mechanisms such as dedicated science and technology credit reviewers and exclusive credit evaluation models.
In terms of service models, a comprehensive investment-loan-insurance financial service platform has been built, bringing in banks, private equity fund managers, financial asset investment companies, and insurers to promote information sharing and ecosystem coordination.
Next, the PBOC will push the pilot zone to form more replicable and promotable experience, steadily and orderly extend its reach across the Beijing-Tianjin-Hebei region, and drive an overall leap in the level of science and technology financial services.
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