(Fighting against New Coronary Pneumonia) The People's Bank of China: More policy efforts to hedge the impact of the epidemic
China News Agency, Beijing, May 10 (Reporter Wei Xi) The People's Bank of China released the latest monetary policy implementation report on the 10th, proposing that in the next stage, it is necessary to seek a dynamic balance among multiple objectives, pay more attention to economic growth, employment and other goals The impact of the policy on the epidemic situation.
The central bank also proposed to coordinate the local and foreign currency policies and handle the balance between the domestic economy and the foreign economy; to maintain China's status among the few countries in the world's major economies that implement normal monetary policies.
On May 10, the People's Bank of China released its latest monetary policy implementation report, proposing that in the next stage, it is necessary to seek a dynamic balance among multiple objectives, pay more attention to economic growth and employment, and hedge the epidemic with greater policy efforts. The picture shows Beijing. A pedestrian passes by the People's Bank of China. China News Service reporter Zhang Xinglong
In the next stage, China's monetary policy will have seven major priorities. The top priority is that the prudent monetary policy is more flexible and appropriate, strengthens countercyclical adjustment, and maintains reasonable and sufficient liquidity.
The central bank proposed to strengthen the monitoring of liquidity supply and demand and domestic and foreign markets, comprehensively use a variety of monetary policy tools to maintain reasonable and sufficient liquidity, and maintain the broad growth rate of broad money M2 and social financing scale and nominal GDP growth rate and slightly higher. Strengthen the prospectiveness, precision, initiative and effectiveness of regulation, further grasp the strength and rhythm of liquidity investment, and maintain the stable operation of the money market interest rate within a reasonable range.
The second is to give full play to the traction and leading role of the re-loan and discount policy. Implemented a 1 trillion yuan (RMB, the same below) re-loan rediscount policy, matching the recovery of the real economy, linking with the 300 billion yuan and 500 billion yuan policies, avoiding breaks, and continuing to expand Credit support from enterprises, private enterprises, foreign trade, and industries heavily affected by the epidemic will guide the reduction of social financing costs.
The third is to give play to the role of monetary and credit policies to promote economic restructuring and better serve the real economy. Establish and improve a long-term mechanism for banks to increase loans to small and micro enterprises. Adhere to the premise that the house is used for living, not for speculation, and the requirement of "do not use real estate as a short-term stimulus to the economy", and maintain the continuity, consistency, and stability of real estate financial policies.
Fourth, further deepen the marketization of interest rates and the reform of the RMB exchange rate formation mechanism. Urge banks to strictly implement the requirements for express loan annual interest rates and effectively protect the rights and interests of financial consumers.
Fifth, improve the financial market system. Support private equity financing and bond financing.
Sixth, deepen the structural reform of the financial supply side and further promote the reform of financial institutions.
Seventh, continue to fight well to prevent and resolve major financial risks, ensure that the risks are generally controllable and continue to converge, and firmly adhere to the bottom line where systemic risks do not occur. (Finish)