Sinobravo Policy Express (June 2026)

High-Level Interaction

Premier Li Qiang Addresses 2026 Summer Davos Forum (WEF Annual Meeting of the New Champions)

On June 24, Premier Li Qiang delivered the opening address at the Summer Davos Forum in Dalian. He noted that China's economy shows resilient and positive momentum in the opening year of the 15th Five-Year Plan (2026–2030). Innovation-driven development is the key to China's long-term growth, he stressed—China's emerging technologies and products bring the world opportunity and empowerment, not disruption or threat. Li called for deeper global innovation cooperation, open-world economy building, tech-for-good principles, and global governance in AI. China will further widen market access and foster a world-class business environment to welcome foreign investors.

MOFCOM Vice Minister Ling Ji Meets Airbus EVP Harrison

On June 23, Ling Ji, MOFCOM Vice Minister & Deputy Int'l Trade Representative, met with John Harrison, Airbus EVP. Both sides discussed Airbus's expanded investment in China and maintaining stability of global aviation industry chains and supply chains.

Trade Rep. Li Chenggang Meets AmCham China Delegation

On June 17, Li Chenggang, Minister of International Trade Negotiations & MOFCOM Vice Minister, met a delegation from the American Chamber of Commerce in China led by Board Chair Sean Green (Zimmerman) and President Michael Hart. Li noted that since last year, Sino-US trade teams have held seven rounds of consultations yielding positive outcomes. China's door will only open wider, and U.S.-invested enterprises are welcome to share in China's development opportunities.

Sino-Canadian Ministerial Exchange on Trade & Industry

On June 18, MIIT Minister Li Lecheng met Canadian Minister of Innovation, Science and Industry Mélanie Joly, expressing willingness to strengthen policy exchange and industrial cooperation. On the same day, Commerce Minister Wang Wentao also met Minister Joly, along with PM Parliamentary Secretary Ryan Turnbull and Canadian business reps, for in-depth discussion on bilateral trade relations and Canadian firms' operations in China.

"Invest in China" German Enterprise Roundtable in Düsseldorf

On June 12, Ling Ji chaired the "Invest in China" German Enterprise Roundtable in Düsseldorf. Topics included export controls, fair competition, supply chain security, and FIE R&D center support policies. Ling emphasized that as each other's key trade/investment partners, China hopes German firms will maintain confidence and contribute to steady China-Germany/EU-China economic ties. German business reps affirmed China as a core strategic market and innovation hub, calling for bridges—not barriers—to deeper cooperation.

Vice Finance Minister Liao Min Addresses APEC Finance Deputies' Meeting

On June 11–12, the APEC Finance Deputies' Meeting was hosted in Chengdu by the MOF. Vice Finance Minister Liao Min delivered the opening remarks, noting the Asia-Pacific remains a key engine of global growth and calling for multilateralism, macro-policy coordination, economic transformation, and resilient industrial chains to drive sustainable regional growth.

Ling Ji Holds Talks with EU Commission DG for Trade & Economic Security

On June 9, Ling Ji met Sabine Weyand at EU HQ to discuss preparations for the China-EU Trade & Investment Consultation Mechanism. Both sides agreed to work toward substantive outcomes at the inaugural meeting to stabilize and sustainably develop bilateral trade ties.

Li Chenggang Attends WTO Mini-Ministerial in Paris

On June 3, Li Chenggang attended the WTO Mini-Ministerial Meeting in Paris. He noted that the recently concluded APEC Trade Ministers' Meeting issued the Suzhou Statement, with consensus reached on WTO reform. Development must be central to reform; members should leverage trade-investment integration to promote industrialization, and coordinate on digital/green economy policies. China supports discussions on fair competition—including disciplining distortive industrial subsidies and improving transparency—and backs a multilateral extension of the moratorium on customs duties on electronic transmissions. On the sidelines, Li held bilateral exchanges with ministers/officials from the EU, UK, Switzerland, Australia, Canada, NZ, Singapore, US, India, Gambia, Samoa, Norway, as well as WTO DG Ngozi Okonjo-Iweala and OECD SG Mathias Cormann.

Finance Minister Lan Fo'an Meets NDB President Rousseff

On June 2, Finance Minister Lan Fo'an met with Dilma Rousseff, President of the New Development Bank (BRICS NDB), to discuss NDB operations and China-NDB cooperation.

Personnel Updates

On June 29, according to Jiangxi Daily, Sheng Qiuping has been appointed Member of the CPC Jiangxi Provincial Committee and Member of its Standing Committee; Member of the CPC Nanchang Municipal Committee, Standing Committee Member and Secretary of the CPC Nanchang Municipal Committee, concurrently serving as Secretary of the CPC Working Committee of Ganjiang New Area. Public resumes show Sheng Qiuping, born September 1968 in Shaoxing, Zhejiang, long served in Zhejiang province and was appointed Vice Minister of Commerce in 2022 before taking up this new post.

On June 26, the State Council announced appointments and removals of personnel: Yue Xiuhu is appointed Deputy Director of the National Development and Reform Commission; Zhang Guangjun is appointed Vice Minister of the Ministry of Science and Technology; Luo Tianshou is appointed Deputy Director of the State Taxation Administration.

Yue Xiuhu, born April 1973 in Shandong, graduated from Renmin University of China and previously served at the NDRC, Yunnan Provincial Department of Ecology and Environment, and Yunnan Provincial Development and Reform Commission. He was appointed Vice Governor of Yunnan in January 2023 and became a member of the Party Leadership Group and Counter-Terrorism Commissioner (deputy-ministerial level) of the Ministry of Public Security in June 2024.

Zhang Guangjun, born February 1968 in Chongqing, holds a bachelor's degree in engineering from Harbin Institute of Technology and is a senior engineer. He worked at the China Academy of Engineering Physics from 1991 to 2018, served as Vice Governor of Guangdong from 2018, and joined the Organization Department of the CPC Central Committee (Central Organization Department) in 2020. Prior to this appointment he was Vice Minister of the Central Organization Department.

Luo Tianshou previously served in the Policy and Regulation Department, the Income Tax Department, and the Tax Collection, Administration and Technology Development Department of the State Taxation Administration. He was appointed Chief Accountant of the State Taxation Administration in July 2022.

On June 26, according to Xinhua News Agency, the 7th Session of the 14th People's Congress of Hangzhou City elected Du Xuliang as Mayor of Hangzhou. Du Xuliang, aged 54 (born September 1971) and a native of Yiwu, Jinhua, Zhejiang, previously served in the General Office of the Zhejiang Provincial People's Congress, Zhejiang Provincial Development and Reform Commission, Shaoxing Municipal Government, and the Liaison Office of the Zhejiang Provincial Government in Beijing. He was appointed Vice Mayor and Acting Mayor of Hangzhou in May this year.

On June 18, Henan DailyWeChat account announced that the CPC Central Committee has approved: Li Tao, Vice Governor of Henan Province and Secretary of the CPC Henan Provincial State-owned Assets Supervision and Administration Commission (SASAC) Committee, is appointed Member of the CPC Henan Provincial Standing Committee and Secretary-General of the CPC Henan Provincial Committee. Public records show Li Tao, aged 56, graduated from Zhengzhou University majoring in microelectronics, and previously served in the General Office of the Henan Provincial Government, the Office of the Provincial Department of Industry and Information Technology, and the former Henan Provincial Commission of Economy and Information Technology, and was appointed Deputy Secretary-General of the Henan Provincial Government in 2018. He has served as Vice Governor of Henan since April 2025.

On June 16, Hexpoint (交汇点) News reported that the CPC Central Committee has approved: Chen Zhongwei, Vice Governor of Jiangsu Province, is appointed Member of the CPC Jiangsu Provincial Standing Committee. Public records show Chen Zhongwei was born in June 1969 in Chaozhou, Guangdong, worked at Xuzhou Mining Bureau for many years, joined the provincial Work Safety Supervision system in 2001, served as Director-General of Jiangsu Provincial Emergency Management Department from October 2018, and was appointed Vice Governor of Jiangsu from July 2024.

On June 11, Southern Plus (南方+) reported that the CPC Central Committee recently approved Hu Fan as Head of the Organization Department of the CPC Guangdong Provincial Committee. Public records show Hu Fan, born September 1971, holds a part-time postgraduate degree. He previously served as Vice Chairman of the Guangxi Zhuang Autonomous Region Government, and earlier worked at the Ministry of Finance, the Office of the Leading Group for State-Owned Cultural Enterprises Supervised by the Central Government, and the Ministry of Finance's Guangxi Regulatory Bureau, among others.

On June 8, Wei Xiaokui was appointed Member of the CPC Fujian Provincial Committee, Standing Committee Member, and Secretary of the CPC Fujian Provincial Discipline Inspection Commission. Wei Xiaokui, aged 57 and a native of Jiujiang, Jiangxi, worked in the Jiangxi forestry system for 19 years from 1991, then successively served at the Provincial Administration for Industry and Commerce, the Provincial Discipline Inspection Commission, and in the municipal governments of Yichun and Fuzhou, Jiangxi. He was appointed Member of the Fujian Provincial Government Party Leadership Group and Vice Governor of Fujian in 2024.

On June 5, the State Council announced appointments and removals of personnel: Ding Xiangqiu (female) is appointed Chairperson of the National Financial Regulatory Administration (NFRA); Liu Sushe is appointed Vice Minister of the Ministry of Culture and Tourism. Ding Xiangqiu, born June 1965 in Huai'an, Jiangsu, graduated from Renmin University of China majoring in money and banking with a master's degree in economics and is a senior economist. She began working in the banking and insurance system in 1987, successively served in Guangxi Zhuang Autonomous Region, Anhui Province, and PICC (The People's Insurance Company of China Group), and was appointed Party Secretary of the NFRA in May 2026. Liu Sushe, born October 1967 in Yangling, Shaanxi, graduated from the Graduate School of the Chinese Academy of Agricultural Sciences majoring in agricultural economic management with a doctoral degree in management. Prior to this appointment he was Member of the Party Leadership Group and Vice Minister of the National Development and Reform Commission.

On June 5, Wang Bing was appointed Member of the CPC Gansu Provincial Standing Committee. Wang Bing, aged 54 and a native of Suzhou, Jiangsu, served in the banking system from 2009 to 2024, formerly heading the Jiangsu Branch of Bank of China and serving as Vice President and Board Secretary of China Construction Bank. He was appointed Vice Governor of Gansu in November 2024.

Macroeconomic Policy

PBoC Law Revision Draft Submitted for First Reading

On June 23, the Draft Revision to the Law of the People's Republic of China on the People's Bank of Chinawas submitted for its first reading at the 23rd Session of the Standing Committee of the 14th National People's Congress. The current PBoC Law was enacted in 1995 and amended in 2003; with the development and changes in the financial sector in recent years, revision is necessary. The draft revision consists of eight chapters and 54 articles, revising content to substantiate the general requirements for the central bank's work, improve basic central bank management systems, refine the dual-pillar regulatory framework of monetary policy and macro-prudential policy, substantiate the PBoC's function of maintaining financial stability, enhance the effectiveness of central bank supervision, and add provisions on extraterritorial application as well as blocking and countermeasures.

Three Departments Issue Action Plan for Consolidating, Stabilizing and Optimizing Foreign Investment Utilization

On June 22, the Ministry of Commerce, the National Development and Reform Commission, and the Ministry of Finance issued the Action Plan for Consolidating, Stabilizing and Optimizing Foreign Investment Utilization, which puts forward a series of measures including expanding market access, enhancing investment facilitation, implementing national treatment for foreign investors, and improving foreign-invested enterprise service safeguards, so as to stabilize existing foreign capital, attract new foreign capital, upgrade the quality of foreign investment attraction, continuously optimize the market-oriented, law-based and internationalized business environment, bolster foreign investors' confidence in investing in China, and consolidate the baseline of utilized foreign investment.

Pan Gongsheng Announces Six Upcoming Financial Policy Measures at the 2026 Lujiazui Forum

On June 17, People's Bank of China Governor Pan Gongsheng announced six upcoming policy measures at the 2026 Lujiazui Forum. First, improve the short-term interest rate control mechanism by narrowing the interest rate band between temporary overnight reverse repo and repo operations from 70 basis points to 50 basis points, and appropriately add overnight reverse repo instruments. Second, create a Foreign Official Institutions RMB Repo (FIMA RMB Repo) facility to allow foreign central banks and similar institutions to obtain RMB liquidity using PBoC-held Chinese government bonds. Third, launch a pilot program for offshore RMB foreign exchange transactions in the Shanghai Free Trade Zone, authorizing six banks to conduct business via the China Foreign Exchange Trade System (CFETS) platform. Fourth, study the establishment of a macro-prudential tool for providing non-bank liquidity support under specific scenarios, to supply emergency liquidity to non-bank financial institutions when the market faces systemic pressure. Fifth, jointly issue with the Shanghai Municipal Government the Action Plan for Developing an Offshore Financial Center in Shanghai International Financial Centre. Sixth, officially inaugurate the interbank market data reporting repository to enhance penetrative monitoring of financial markets.

State Administration for Market Regulation Issues Enforcement Guidelines on Citation Content in Advertisements

On June 12, the State Administration for Market Regulation (SAMR) released the Enforcement Guidelines on Citation Content in Advertisements, regulating data, statistical materials, survey results, excerpts, and quoted phrases cited in advertisements. The Guidelines require that cited content in advertisements must be truthful, accurate and lawful, and shall not be fabricated or falsified; advertisers bear the burden of proof for the truthfulness of cited content. The source of cited content shall be clearly indicated; applicable scope or validity period, if any, shall be explicitly stated. Advertisement operators and publishers shall verify and check cited content pursuant to law. Going forward, market regulation authorities will, in conjunction with the ongoing campaign to clean up abusive fine-print disclaimers in advertisements, further curb illegal ads featuring "eye-catching headlines with hidden small-print disclaimers," alleviate marketing anxiety of advertisers, and guide them to voluntarily abandon word-game-style advertising.

Eight Departments Jointly Issue Measures to Promote Integrated Rail-Tourism Development

On June 10, the Ministry of Commerce, the Ministry of Culture and Tourism, China State Railway Group and five other departments jointly issued Several Measures on Promoting Integrated Development of Railways and Tourism and Expanding Service Consumption, proposing that by 2030 notable progress shall be made in rail-tourism integration, with more than 160 dedicated tourist train sets to be deployed nationwide. The Measures set out 15 key tasks in five aspects: (1) Accelerate tourist-oriented upgrading of railway infrastructure; (2) Enrich the railway tourism product system by launching themed tourist trains, special ticket products and railway culture-themed merchandise, and promote the development of cross-border tourist trains such as those to Laos and Kazakhstan; (3) Improve railway tourism service levels and enable one-stop travel services via the 12306 platform; (4) Strengthen operational support for railway tourism by enhancing capacity backing and optimizing ticketing services; (5) Reinforce policy safeguards by coordinating funding channels to support station renovation and encouraging financial institutions to support equipment upgrades for tourist trains.

Revised Administrative Measures for Service Industry Development FundsIssued to Accelerate Cultivation of New Consumption Growth Points

On June 10, the Ministry of Finance and the Ministry of Commerce released the revised Administrative Measures for Service Industry Development Funds, effective as of the date of issuance, with the 2023 version repealed simultaneously. The Measures clarify that the Service Industry Development Fund is a special transfer payment arranged by the central government budget, with a term of implementation until 2028, mainly used to support modern commercial circulation, modern service industry development, and consumption promotion. The scope of funding support includes accelerating the cultivation of new consumption growth points (service consumption, lower-tier market consumption, AI-enabled consumption applications, etc.), enhancing the competitiveness of the commercial circulation sector, and other important matters deployed by the CPC Central Committee and the State Council. Forms of support include fiscal grants, interest subsidies, awards in lieu of subsidies, and government procurement of services. The Measures lay out comprehensive provisions on fund application and review, budget allocation, utilization management, performance evaluation and supervision and inspection, and emphasize that funds shall not be embezzled or misappropriated, applied for redundantly, or used for constructing office buildings or other non-compliant purposes.

PBoC Revises Provisions on RMB Deposit and Loan Interest Rate Administration

On June 5, the People's Bank of China released the Provisions on the Administration of RMB Deposit and Loan Interest Rates (Draft for Comment), amending the Provisions on RMB Interest Rate Administrationpromulgated 26 years ago, and proposes adjustments to rules on interest calculation and interest crediting for deposits and loans. Under existing provisions, the penalty interest rate on overdue loans is 30%–50% above the loan interest rate stipulated in the contract, and the penalty interest rate on loans used contrary to the contract purpose is 50%–100% above the contracted rate; the draft revision proposes that the penalty interest rate, method of interest calculation and grace period be determined through negotiation between the borrower and the lender. The draft adds a definition of absorbing deposits through irregular means such as paying supplementary interest manually in violation of regulations or exceeding the self-disciplinary interest rate cap set by the Market Interest Rate Self-disciplinary Pricing Mechanism, which disturbs the competitive order of the deposit market.

State Council Issues New Outward Investment Regulations, Effective July 1 This Year

On June 1, the State Council issued the Provisions on Outward Investment, which will enter into force on July 1. The Provisions consist of 34 articles. For investors, they: (1) strengthen services by improving the overseas comprehensive service system and providing multi-dimensional institutional safeguards to support going-global enterprises in participating in international cooperation and competition under the rule of law; (2) optimize administration by refining the outward investment management system and reinforcing the primary responsibility of investors; (3) enhance protection through strengthened monitoring, early warning and risk assessment, guiding and assisting investors in preventing safety risks, and establishing an investment barrier investigation system to safeguard the security and legitimate rights and interests of investors and their outward investments.

Guangdong Issues Service Sector Capacity Expansion and Quality Upgrade Implementation Plan, Targeting Service Sector Added Value Above RMB 11 Trillion by 2030

On June 19, the Guangdong Provincial People's Government issued the Implementation Plan for Expanding Capacity and Upgrading Quality of the Service Sector in Guangdong Province(Yue Fu [2026] No. 36), proposing that by 2030 the province's service sector added value will exceed RMB 11 trillion yuan and a high-quality, efficient modern service system will be built at an accelerated pace. The Plan deploys specific tasks across 11 key sectors—wholesale & retail, accommodation & catering, finance, information transmission/software & IT services, real estate, leasing & business services, transport/storage & postal services, sci-tech services, culture/sports & recreation, resident services, and education & health—and puts forward safeguard measures in six aspects: building the "Guangdong Service" brand, cultivating market entities, strengthening infrastructure support, promoting AI applications, reinforcing factor support, and improving comprehensive industrial park amenities.

Please click the following link to see more industry trends: 中富博睿政策月刊（2026年6月刊）

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