A policy management method, comprising: receiving, by a first session management function network element, first information from a second session management function network element, wherein the first information indicates a data network to which a first anchor user plane function network element managed by the second session management function network element is connected; determining, by the first session management function network element based on the first information, first rule information to be executed by a first network element managed by the second session management function network element, wherein the first network element comprises at least one of the first anchor user plane function network element or a branching point, the branching point is a user plane function network element having a traffic offload function, the branching point is connected to the first anchor user plane function network element, the first rule information indicates a processing method to be performed on a data packet of a first application, and the data packet of the first application is transmitted through the first anchor user plane function network element; and sending, by the first session management function network element, second information to the second session management function network element, wherein the second information comprises the first rule information, characterized in that the second information further comprises fifth indication information indicating whether the first network element that is to execute the first rule information is the branching point or the first anchor user plane function network element. receiving, by a first session management function network element, first information from a second session management function network element, wherein the first information indicates a data network to which a first anchor user plane function network element managed by the second session management function network element is connected; determining, by the first session management function network element based on the first information, first rule information to be executed by a first network element managed by the second session management function network element, wherein the first network element comprises at least one of the first anchor user plane function network element or a branching point, the branching point is a user plane function network element having a traffic offload function, the branching point is connected to the first anchor user plane function network element, the first rule information indicates a processing method to be performed on a data packet of a first application, and the data packet of the first application is transmitted through the first anchor user plane function network element; and sending, by the first session management function network element, second information to the second session management function network element, wherein the second information comprises the first rule information, characterized in that the second information further comprises fifth indication information indicating whether the first network element that is to execute the first rule information is the branching point or the first anchor user plane function network element.