[Video] [Authoritative Interview · Riding on the Situation and Moving Forward] Yi Gang: Maintain a moderate financial aggregate and ensure employment

  CCTV News (News Broadcast): Since 2020, in the face of the sudden impact of the new crown pneumonia epidemic and the complex and severe domestic and foreign situations, the People's Bank of China has decisively increased its monetary policy counter-cyclical adjustment efforts to maintain the stability of the financial market, and to achieve the national economy Quick recovery provides strong support. In the second half of the year, where will the People's Bank of China focus its work? How will monetary policy tools work? Look at this reporter's interview with Yi Gang, Governor of the People's Bank of China.

  Since the beginning of this year, in the face of the impact of the epidemic, the People’s Bank of China has promptly innovated monetary policy tools and reduced the reserve ratio three times in the first half of the year. In accordance with the needs of emergency response to epidemic prevention and control, support for resumption of work and production, and protection of market entities, the People’s Bank of Provide 300 billion, 500 billion, and 1,000 billion re-loans and discounts on a gradient.

  According to Yi Gang, under the countercyclical adjustment of monetary policy, the financial market has reasonable and abundant liquidity, and the financial data in the first half of the year is very stable and eye-catching.

  At the same time that the aggregate indicators have risen, the People's Bank of China has comprehensively used a variety of monetary policy tools to guide the decline of interest rates in the financial market, which has significantly reduced the financing costs of enterprises.

  In addition, affected by the epidemic, the international situation has become more complex and changeable. Under such circumstances, will my country's financial opening-up be affected? Yi Gang responded that the People's Bank of China will continue to unswervingly implement the reform and opening up of the financial industry.

  Yi Gang said that in the second half of the year, the monetary policy should be more flexible, moderate, and precise, and the policies that have been introduced to stabilize enterprises to ensure employment are effectively implemented.