China News Service, March 25. According to the WeChat official account of the People's Bank of China, on March 25, 2024, Pan Gongsheng, Governor of the People's Bank of China, attended the China Development Forum to discuss China's economic situation and monetary policy, financial stability, financial openness and He delivered a speech on international cooperation and had in-depth exchanges with conference guests from Chinese and foreign-funded enterprises, financial institutions, etc.
Pan Gongsheng said that China's economy has maintained a good momentum of recovery and has the ability to achieve the expected growth target of about 5% for the whole year. Since the beginning of this year, monetary policy has stepped up countercyclical adjustments, and the policy effects have continued to show. There will still be sufficient policy space and a rich reserve of tools in the future. The People's Bank of China will, in light of the needs of the regulatory situation, implement prudent monetary policies in a flexible, appropriate, precise and effective manner, strengthen countercyclical adjustments, take maintaining price stability and promoting a moderate price recovery as an important consideration in controlling monetary policy, and continue to create a favorable environment for economic recovery. Good monetary and financial environment.
Pan Gongsheng pointed out that China's financial system is operating steadily, financial institutions are generally healthy, and risk resistance is strong. There have been some positive signals in the real estate market. There is a solid foundation for long-term healthy and stable development. Real estate market fluctuations have limited impact on the financial system. The Chinese government's debt level is at the mid-to-lower level internationally, and relevant policies to resolve local government debt risks are gradually taking effect. China has built an effective financial safety net, including improving the corporate governance of financial institutions, strengthening financial supervision, strengthening the protection of disposal resources, giving full play to the role of the lender of last resort, and strengthening the rule of law.
Pan Gongsheng introduced the important progress China has made in adhering to the principles of marketization, rule of law, and internationalization, and independently and orderly promoting high-level opening up of the financial industry, including expanding the opening of the financial services industry and financial markets, improving the convenience of international use of the RMB, and improving financial supervision. policies, optimize the business environment, and strengthen communication and coordination of international macroeconomic and financial policies. Pan Gongsheng emphasized that the experience of China's financial market development shows that unswervingly expanding opening up is a powerful driving force and important guarantee for achieving high-quality financial development, and is a key measure to further enhance the ability of finance to serve the real economy and international competitiveness. In the next step, the People's Bank of China will continue to unswervingly carry out various tasks of financial opening up.
Image source: WeChat official account of the People’s Bank of China
Image source: WeChat official account of the People’s Bank of China