China News Service, Beijing, March 25 (Reporter Xia Bin) Pan Gongsheng, Governor of the Central Bank of China, attended the 2024 Annual Meeting of the China Development Forum in Beijing on the 25th and said that there have been some positive signals in the real estate market and that there is a solid foundation for long-term healthy and stable development. Basically, real estate market fluctuations have limited impact on the financial system.
Pan Gongsheng pointed out that China's financial system is operating steadily, financial institutions are generally healthy, and risk resistance is strong. 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.
In addition, 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 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.
He pointed out that the People's Bank of China will implement prudent monetary policies flexibly, appropriately, accurately and effectively in line with the needs of the regulatory situation, strengthen countercyclical adjustments, and take maintaining price stability and promoting a moderate price recovery as an important consideration in grasping monetary policy, and continue to pave the way for economic recovery. To create a good monetary and financial environment.
Pan Gongsheng also 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 financial services 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. (over)