China’s 2026-30 financial plan pairs tougher risk management with a broader system-building drive, while the government summary and a Qiushi speech excerpt set no timeline for President Xi Jinping’s renminbi reserve-currency vision.
People’s Bank of China Deputy Governor Lu Lei said the Office of the Central Financial Commission developed the plan with relevant financial authorities. The government summary presents it as a framework for strengthening the financial sector and its support for the economy.
The targets include better coordination of financial rules, stronger supervision, more focused risk prevention and a comprehensive legal framework. Officials also want to widen financial opening and raise the sector’s international influence and competitiveness, the summary says.
The plan identifies the wider economy and society as intended beneficiaries. It also directs officials to address risks at local small and midsize financial institutions and calls on financial firms to prioritize quality and performance over rapid expansion.
Officials said banks and insurers provided more than 170 trillion yuan in additional financing to China’s real economy during 2021-25, through lending, bond issuance and equity financing.
In an excerpt from a speech delivered Jan. 16, 2024, Xi called for the renminbi to play a larger role in cross-border trade, investment and foreign-exchange dealings, and eventually gain global reserve-currency standing. He also described a strong central bank, capable financial institutions, international financial centers, regulation and skilled professionals as foundations of financial strength. Qiushi’s page says the excerpt was updated May 25, 2026.
The speech excerpt and government plan summary specify neither a date nor a numerical measure for the currency ambition. People’s Bank of China Deputy Governor Lu Lei said China would maintain a managed floating exchange-rate system and let markets play a decisive role in setting the exchange rate.
Axios reported that a wider international role for the renminbi would require China to ease controls on cross-border capital flows. The outlet also pointed to the depth of U.S. financial markets and infrastructure as advantages supporting the dollar’s position.
Qiushi’s explainer invokes the 2008 international financial crisis as a warning that trouble in one part of the financial system can spread more widely.
The plan sets two longer-term checkpoints: officials want the basic architecture of a modern financial system established by 2030, with the broader system largely built out by 2035 and marked by competitiveness, flexibility and inclusion.
