The People's Bank of China held the 2025 Macroprudential Work Conference. The meeting held that in 2024, the People's Bank of China will accelerate the improvement of the central bank system, improve macro-prudential policies and governance mechanisms, strengthen macro-prudential management in key financial areas, strengthen the ability of systemically important Financial Institution Groups to serve the real economy, continue to optimize real estate financial policies, maintain the stable operation of financial marekts, improve the management of cross-border RMB business, and improve the level of cross-border financial services. By the end of 2024, the RMB ranked fourth in the world for payment and third in trade financing, and the level of RMB internationalization has steadily improved. The meeting called for macro-prudential work in 2025 to strengthen macroeconomic and financial analysis and judgment, based on the development of the real economy and the people's demand for financial services, explore and expand the central bank's macro-prudential and financial stability functions, improve the macro-prudential policy system, innovate macro-prudential policy tools, promote the economy to continue to recover and maintain the stable operation of financial marekt. Improve real estate financial management, help the real estate market stop falling and stabilize, and support the construction of a new model of real estate development. Promote the cross-border use of RMB, enhance cross-border transfer, pricing, investment and financing functions, and further promote the facilitation of trade investment and financing. Develop the offshore RMB market, give play to the role of currency swaps and RMB clearing banks, accelerate the construction of Shanghai's international financial center, and consolidate and enhance Hong Kong's status as an international financial center.