People's Bank of China: Flexibly and efficiently use various monetary policy tools such as reserve requirement ratio cuts and interest rate reductions, and grasp the strength, rhythm, and timing of policy implementation

The Secretary of the Party Committee and Governor of the People's Bank of China, Pan Gongsheng, presided over a Party Committee meeting. The meeting proposed to continue implementing a moderately loose monetary policy and accelerate the advancement of financial supply-side structural reforms. It emphasized promoting stable economic growth and a reasonable rebound in prices as important considerations for monetary policy, flexibly and efficiently utilizing various monetary policy tools such as reserve requirement ratio cuts and interest rate reductions, and properly grasping the strength, rhythm, and timing of policy implementation to maintain ample liquidity, promote low comprehensive financing costs in society, and strengthen financial support for the real economy. It aims to smooth the transmission mechanism of monetary policy, optimize the use of structural monetary policy tools, enhance coordination with fiscal policy, and encourage and guide financial institutions to increase support for key areas such as expanding domestic demand, technological innovation, and small and micro enterprises. It also aims to maintain basic stability of the RMB exchange rate at a reasonable and balanced level.

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