China's Central Bank Urges Macroprudential Monitoring of Bond Market and Long-Term Yields

China's central bank said its Monetary Policy Committee held its regular meeting for the second quarter of 2026. According to Jin10, the meeting recommended regulating business practices in the credit market, reducing financing intermediary fees, and keeping overall social financing costs at a low level. The committee also called for observing and assessing bond market conditions from a macroprudential perspective, with attention to changes in long-term yields. It recommended improving the monetary policy transmission mechanism and raising the efficiency of fund utilization. The committee further urged strengthening the resilience of the foreign exchange market, stabilizing market expectations, and maintaining basic stability of the renminbi exchange rate at a reasonable and balanced level.