The People's Bank of China: Implement the one-off personal credit repair policy prudently and strengthen the regulation of virtual currencies.

The People's Bank of China (PBOC) held its 2026 Working Conference on January 5-6. The conference emphasized the need to study and construct a financial statistics system and standards framework that matches the modern central banking system, and to continue effective statistical monitoring of key areas such as the "five major tasks" in finance and the debt of financing platforms. It also stressed consolidating the achievements in improving the cash-use environment, continuously improving the efficiency and effectiveness of treasury management, prudently implementing the one-time personal credit repair policy, further improving the social credit system, and optimizing payment services for the elderly and foreign nationals in China on a regular and long-term basis. The conference called for strict implementation of penetrating supervision of payment institutions and supervision of payment business functions, strengthening the supervision of virtual currencies, and continuously cracking down on related illegal and criminal activities. It also emphasized deepening technology management and innovative applications, and steadily developing the digital RMB. (Jinshi)