On June 18, the 12th Lujiazui Forum (2020) opened in Shanghai, and the Governor of the People's Bank of China Yi Gang delivered a keynote speech. Yi Gang said that the stock market, bond market, foreign exchange market and RMB exchange rate were generally stable in the first half of the year. Since the second quarter, my country's major macroeconomic indicators have shown good signs of recovery. The size of the People's Bank of China's balance sheet has been basically stable at around 36 trillion yuan in recent years. This is different from the mechanism of the current major expansion of the central bank balance sheets of major economies in the world. However, the balance sheets of China’s commercial banks have continued to expand reasonably and loans have maintained high growth, reflecting the continuous efficiency of monetary policy transmission. Improve and the market mechanism works well. (Reporter Zhang Hengwei editor Lu Jie)
Editor in charge: [Wang Kai]