Peng Yang
According to the People's Bank of China on July 16, Yi Gang, Governor of the People's Bank of China, said recently that China's inflation is low and expected to remain stable. Affected by the epidemic and external shocks, China's economy is facing certain downward pressure, and the People's Bank of China will increase its prudent monetary policy. to provide stronger support for the real economy.
On July 15-16, Indonesia, the rotating presidency of the Group of Twenty (G20), hosted the third G20 Finance Ministers and Central Bank Governors Meeting this year in Bali in a combination of online and offline methods.
Yi Gang said in his speech that the People's Bank of China will continue to take the lead in formulating a financial policy framework for transformation, work with all parties to promote the implementation of the "G20 Sustainable Finance Roadmap", and give full play to the role of finance in supporting carbon peaking and carbon neutrality. important role.
In the first half of this year, the People's Bank of China intensified the implementation of a prudent monetary policy, gave full play to the dual functions of monetary policy tools in terms of total volume and structure, and strived to serve the real economy and stabilize the economic market.
The People's Bank of China said that in the first half of the year, the People's Bank of China lowered the reserve ratio by 0.25 percentage points, turned over 900 billion yuan of profit from balances, reasonably increased the supply of liquidity, and increased credit support for the real economy by financial institutions.
The June financial data released by the People's Bank of China recently showed that the increase in new RMB loans and the scale of social financing both hit a record high for the same period, helping the economy's endogenous growth momentum to continue to recover.
In terms of intensifying the implementation of a prudent monetary policy, Zou Lan, director of the Monetary Policy Department of the People's Bank of China, said recently that in terms of total liquidity, it will maintain reasonable and sufficient liquidity, increase credit support for the real economy, and maintain money supply and social The growth rate of financing scale basically matched the growth rate of the nominal economy, and the annual turnover of the balance of profits to the central government was completed ahead of schedule.
In terms of price, it will give full play to the efficiency and guiding role of the reform of the quoted interest rate in the loan market, and the role of the market-oriented adjustment mechanism of deposit interest rates, so as to guide financial institutions to transmit the effect of the decline in deposit interest rates to the loan side, and further promote financial institutions to reduce actual loan interest rates.
Structurally, we will continue to make good use of structural monetary policy tools and highlight key areas of financial support.