The People’s Bank of China announced at the Financial Street Forum in Beijing on October 19, 2026 that it will closely monitor the impact of artificial intelligence on the economy, financial markets and monetary policy. Governor Pan Gongsheng called for cautious assessments across these three areas, noting that AI has not yet significantly affected overall employment levels but is already changing job structures. Huang Yiping, a member of the PBOC’s monetary policy committee, had warned a month earlier that rapid AI adoption could worsen China’s imbalance between strong supply and weak domestic demand. The PBOC is also exploring adjustments to its monetary policy framework, including greater emphasis on overnight reverse repo rates to provide liquidity support for non-bank institutions.
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