China's central bank announces a bond-market backstop.
Today's events
Liquidity backstop.
Central bank will set up a liquidity tool for mass fund redemptions, and said it may switch its main policy rate to overnight.1Oct 19 · People's BankDouble expulsion.
Party expelled Wang Wenling, former deputy chairman of the national social security fund, from the Party and public office; bribery case goes to prosecutors.2Oct 19 · Discipline CommissionPolitical training.
Xi wrote to the Central Institute of Socialism on its seventieth anniversary, telling it to strengthen political training and broaden political consensus.3Oct 20 · State CouncilInnovation finance.
Central bank and ten other agencies issued guidance to lift direct financing for science hubs in Beijing, Shanghai and the Greater Bay Area by 2030.4Oct 19 · People's BankYasukuni protest.
Foreign ministry filed a formal protest after Japan's prime minister sent offerings to the Yasukuni Shrine on October 17 and 19.5Oct 19 · Foreign MinistryForeign-exchange opening.
Currency regulator marked thirty years of current-account convertibility, noting firms and banks now hold nearly seventy percent of China's external financial assets.6Oct 19 · Foreign Exchange Admin.Steel AI standards.
Market regulator published China's first three national guidance documents for steel-industry large models, covering use cases, training data and service maturity.7Oct 20 · Market RegulatorEurasia tour.
Foreign minister ended a four-country trip in Sofia, proposing to link Belt and Road with the Middle Corridor and add artificial-intelligence cooperation.8Oct 20 · China Military OnlineLong March at ninety.
Qiushi commentary, October 19, marked ninety years since the Long March ended, casting today's tasks as a new long march toward national rejuvenation.9Oct 19 · Qiushi
Voices
“Keep a firm grip on the correct direction of schooling, continually strengthen political training, broadly forge political consensus, and better serve the overall work of the Party and state.”
Xi Jinping, General Secretary, letter to the Central Institute of Socialism · Oct 203
“The interbank overnight repo rate has in effect become the central bank's target rate, yet our main open-market tenor and policy rate are still seven-day.”
Pan Gongsheng, Governor of the People's Bank of China, Financial Street Forum · Oct 191
“China firmly opposes and sternly condemns Japan's negative moves, and has filed a formal protest and strong objection with the Japanese side.”
Mao Ning, Foreign Ministry Spokesperson · Oct 195
“Trust is the bedrock of peace. China will always stand on the right side of history and play its part in dissolving the trust deficit.”
Wang Yi, Foreign Minister, in Sofia · Oct 198
“The Long March: an epic of heroism on a magnificent scale, a road of struggle tempered into steel.”
Qiushi, Zhong Hualun commentary, Party Theoretical Journal · Oct 199
“Wang Wenling lost his ideals and convictions, privately carried and read books with serious political problems, resisted organizational investigation, and engaged in superstitious activities.”
Central Commission for Discipline Inspection, case determination · Oct 192
Sources
- People's Bank of China (中国人民银行), “Keynote address by Governor Pan Gongsheng at the 2026 Financial Street Forum Annual Conference,” October 19, 2026. pbc.gov.cn/goutongjiaoliu/…/pan-gongsheng-financial-street-forum
- Central Commission for Discipline Inspection (中央纪委国家监委), “Wang Wenling, former Party group member and deputy chairman of the National Council for Social Security Fund, expelled from the Party and from public office,” October 19, 2026. ccdi.gov.cn/yaowenn/…/wang-wenling-expelled
- State Council (中国政府网), “Xi Jinping sends a congratulatory letter on the 70th anniversary of the Central Institute of Socialism, stressing sustained political training and broad political consensus,” October 20, 2026. gov.cn/yaowen/…/xi-letter-institute-of-socialism
- People's Bank of China (中国人民银行), “The People's Bank of China and other departments issue Guiding Opinions on financial support for building the Beijing, Shanghai and Guangdong-Hong Kong-Macao international science and technology innovation centres,” October 19, 2026. pbc.gov.cn/goutongjiaoliu/…/sci-tech-innovation-centre-finance
- Ministry of Foreign Affairs (外交部), “Regular press conference held by Foreign Ministry Spokesperson Mao Ning,” October 19, 2026. mfa.gov.cn/wjdt/fyrbt/…/press-conference-oct-19
- People's Bank of China / State Administration of Foreign Exchange (国家外汇局), “Deepening opening in the foreign-exchange field to better serve the new development pattern — keynote by Deputy Governor and SAFE Administrator Zhu Hexin,” October 19, 2026. pbc.gov.cn/goutongjiaoliu/…/zhu-hexin-foreign-exchange-opening
- State Administration for Market Regulation (市场监管总局), “A complete closed loop: the first batch of standards for artificial intelligence in the steel industry is released,” October 20, 2026. samr.gov.cn/xw/mtjj/…/steel-ai-standards
- China Military Online (中国军网, 81.cn), via Xinhua, “Wang Yi on four impressions of his Eurasia trip,” October 20, 2026. 81.cn/ss_208539/…/wang-yi-eurasia-trip
- Qiushi (求是, Party Theoretical Journal), “Zhong Hualun: Press bravely onward on the new Long March,” October 19, 2026. qstheory.cn/20261019/…/long-march-ninety-years