Chinanews.com, September 9 According to the central bank's WeChat public account, the People's Bank of China Monetary Policy Committee's regular meeting in the third quarter of 27 (the 2023nd in total) was held in Beijing on September 102.
The meeting analyzed the economic and financial situation at home and abroad. The meeting held that since the beginning of this year, the macro policy has adhered to the principle of steadiness and progress, prudent monetary policy is precise and powerful, counter-cyclical adjustment has been strengthened, and policy tools such as interest rates and reserves have been comprehensively used to effectively serve the real economy, effectively prevent and control financial risks, and create a suitable monetary and financial environment for the economic recovery. The reform of the loan market quotation interest rate has achieved remarkable results, the role of the deposit interest rate market-oriented adjustment mechanism has been effectively played, the transmission efficiency of monetary policy has been enhanced, and the cost of social financing has decreased significantly. The supply and demand of the foreign exchange market are basically balanced, the current account surplus is stable, the foreign exchange reserves are sufficient, the RMB exchange rate floats in both directions, and the expectation is to stabilize, maintaining basic stability at a reasonable and balanced level, and giving play to the function of macroeconomic stabilizer.
The meeting pointed out that the current external environment has become more complex and severe, international economy, trade and investment have slowed down, inflation is still at a high level, and interest rates in developed countries will continue to remain high. The domestic economy continues to recover, recovers and strengthens, but still faces challenges such as insufficient demand. It is necessary to continue to exert efforts and ride on the momentum, increase the intensity of macro-policy regulation and control, accurately and effectively implement prudent monetary policy, do a good job in counter-cyclical and cross-cyclical adjustment, better play the dual functions of the total amount and structure of monetary policy tools, focus on expanding domestic demand, boost confidence, accelerate the virtuous cycle of the economy, and provide stronger support for the real economy. Strengthen the implementation of the introduced monetary policy, maintain reasonable and sufficient liquidity, maintain reasonable growth and steady pace of credit, and keep the growth rate of money supply and social financing scale basically matching the growth rate of nominal economy. Enhance the guiding role of government investment and policy incentives, and effectively stimulate private investment. Promote the recovery of low prices and keep prices at a reasonable level. Implement the increased reloan and rediscount quota, implement the existing structural monetary policy tools, continue to increase support for key areas and weak links of the national economy such as inclusive finance, green development, scientific and technological innovation, and infrastructure construction, and implement comprehensive policies to support coordinated regional development. Deepen the structural reform of the financial supply side, guide the service focus of large banks to sink, promote small and medium-sized banks to focus on their main business, support banks to replenish capital, and jointly maintain the stable development of the financial market. Improve the formation and transmission mechanism of market-oriented interest rates, give play to the guiding role of the central bank's policy interest rates, release the effectiveness of the reform of the loan market quotation rate and the market-oriented adjustment mechanism of deposit interest rates, and promote the steady reduction of enterprise financing and residents' credit costs. Deepen the market-oriented reform of the exchange rate, guide enterprises and financial institutions to adhere to the concept of "risk neutrality", comprehensively implement policies, correct deviations, stabilize expectations, resolutely correct unilateral and pro-cyclical behaviors, resolutely prevent the risk of exchange rate overshoot, and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level. Build an institutional mechanism for finance to effectively support the real economy, implement the action plan for increasing support for financing of science and technology enterprises, guide financial institutions to increase medium- and long-term loans for the manufacturing industry, and support the acceleration of the construction of a modern industrial system. Improve the green financial system with the goal of achieving carbon peak and carbon neutrality. Optimize consumer financial services in the field of bulk consumer goods and social services, and continue to increase financial support for enterprises to stabilize and expand jobs and key groups to start businesses and employment. According to the city's policies, we will accurately implement differentiated housing credit policies, support rigid and improved housing demand, implement the dynamic adjustment mechanism of the interest rate policy for newly issued first home loans, reduce the down payment ratio and the lower limit of the interest rate of second home loans, promote the implementation of reducing the interest rate of existing first home loans, increase financial support for "flat and urgent use" public infrastructure construction, urban village transformation, affordable housing construction, etc., promote the establishment of a new model of real estate industry development, and promote the stable and healthy development of the real estate market. Implement financial policies and measures to promote the healthy development of the platform economy, and promote the healthy and sustainable development of platform enterprises. Effectively promote high-level two-way opening up of finance, and improve economic and financial management capabilities and risk prevention and control capabilities under open conditions. (Zhongxin Finance)