[Central Bank: Make good use of non-bank large-amount redemption and swap facilities in the bond market to maintain the smooth operation of financial markets such as stocks, bonds, and foreign exchange] On November 11, the Central Bank released China’s monetary policy implementation report for the third quarter of 2026. The main idea of ​​the next stage of monetary policy is to actively and steadily prevent and resolve financial risks. Build a comprehensive macro-prudential management system and improve the systemic financial risk prevention and disposal mechanism. We will expand and enrich the macro-prudential and financial stability functions of the central bank, enrich and improve the toolbox, intensify the implementation of two monetary policy tools to support the capital market, make good use of non-bank large redemption swap facilities in the bond market, and maintain the smooth operation of financial markets such as stocks, bonds, and foreign exchange. Strengthen financial risk monitoring, assessment and early warning, and strengthen the research and judgment of systemic financial risks. Promote and improve the early correction mechanism of financial risks with hard constraints, and promote the orderly connection between early correction and risk disposal. We will strengthen macro-prudential management of systemically important financial institutions, advance the construction of an additional regulatory system in depth, and steadily expand the coverage of additional regulation to non-bank areas. Improve the cross-border crisis management team mechanism for global systemically important banks and strengthen cross-border regulatory cooperation and information sharing. In accordance with the principles of marketization and rule of law, financial risk disposal in key areas will be steadily and orderly promoted. We will intensify the collection and disposal of divested non-performing assets and improve the quality and efficiency of collection and recovery. Establish and improve a diversified capital replenishment mechanism for local small and medium-sized financial institutions, provide central financial support in accordance with laws and procedures, and strictly prevent moral risks. Continue to enrich risk disposal resources and establish and improve backup financing mechanisms.