Officials of the Central Bank of China: Discussions about the Fed's monetary policy shift have little impact on China's monetary policy

  China News Service, Beijing, July 13 (Reporter Xia Bin) The Federal Reserve recently released a hawkish signal, and there have been discussions in the market about tightening its monetary policy.

The Central Bank of China held a press conference in Beijing on the 13th. Sun Guofeng, Director of the Monetary Policy Department of the Central Bank, said that discussions on the Fed's monetary policy shift have little impact on China's monetary policy and financial markets.

  Sun Guofeng pointed out that from the perspective of the financial market, the interest rate of China's ten-year treasury bond is currently around 3%, which has fallen from the previous period. The exchange rate of the renminbi has fluctuated in both directions, the financial market has maintained stable operation, and the economy has maintained a steady and positive trend. .

  "It should be said that in the context of global economic integration, the economic and financial interactions between various economies affect each other, but due to the time difference between epidemic prevention and control and economic recovery, the U.S. monetary policy and China’s monetary policy have different operations. It is also very normal." Sun Guofeng said that at present, China's economy is stable and improving, and the orientation of prudent monetary policy has not changed. The recent RRR cut is mainly to optimize the capital structure of financial institutions, improve financial service capabilities, and better support the real economy.

  Sun Guofeng pointed out that in the next stage, the monetary policy will adhere to the principle of self-centeredness and stability, adhere to normal monetary policy, and adhere to the autonomy of monetary policy.

In accordance with the domestic economic situation and price trends, the intensity and pace of policies should be well grasped, and internal and external balance should be taken into consideration to strongly support the real economy.

"At the same time, we will also pay close attention to the changes in the international economic and financial situation, with me as the mainstay, carry out international macro policy coordination, and jointly make a positive voice to promote the stable recovery of the global economy." (End)

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