Li Keqiang Inspects the People's Bank of China and the State Administration of Foreign Exchange and Hosts a Symposium, Emphasizing Further Playing the Role of Financial Support in Macroeconomic Stability and Continuously Improving the Level of Financial Services for the Real Economy

　　Xinhua News Agency, Beijing, January 31. On January 30, Premier Li Keqiang visited the People's Bank of China and the State Administration of Foreign Exchange and presided over a symposium.

He emphasized that it is necessary to follow the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, implement the deployment of the Party Central Committee and the State Council, further exert the role of financial support for macroeconomic stability, continue to improve the level of financial services, maintain economic operation within a reasonable range, and promote high-quality development.

　　In the central foreign exchange business center, Li Keqiang communicated with the staff and affirmed the good operating income achieved by the foreign exchange reserves.

He said that opening up to the outside world is a basic national policy. China's economy is deeply integrated into the world. Foreign exchange reserves reflect international confidence in economic and trade cooperation with my country. The stability of the exchange rate is related to the stability of the overall economic and financial situation.

In the face of multiple rounds of external shocks in recent years, my country's foreign exchange reserves have remained above US$3 trillion, and the RMB exchange rate is basically stable, relatively stable among major international currencies, providing strong support for stabilizing foreign trade, finance, and the economy.

　　Li Keqiang learned in detail about the financial services real economy.

He said that finance is the core of the modern economy, and financial reform and development in recent years have strongly supported economic development.

Looking at the cycle of the past ten years, the economy has grown by an average of 6.2% annually, from 53 trillion yuan to 121 trillion yuan, and the total assets of financial institutions have increased significantly to more than 400 trillion yuan. The current stock and bond market ranks second in the world. .

Only when the economy is good can the finance be good, and if the finance is stable, the economy can be stable.

　　At the meeting, the People's Bank of China made a report.

Li Keqiang said that in the face of multiple severe shocks such as the epidemic in the past few years, under the strong leadership of the Party Central Committee with Comrade Xi Jinping at the core, the whole country has worked together to maintain sustained economic growth.

We innovate and strengthen macro-control, adhere to the implementation of a prudent monetary policy, use aggregate and structural tools in accordance with the situation and circumstances, maintain reasonable and sufficient liquidity, and increase support for key areas and weak links, in order to maintain macroeconomic stability and serve the The development of the real economy has played an important role.

At present, there are more than 160 million enterprises and individual industrial and commercial households, which is three times that of ten years ago.

Focusing on alleviating the difficulty and high cost of financing for small and medium-sized enterprises and individual industrial and commercial households, we guide the continuous decline of loan interest rates, develop inclusive finance, and implement loan repayment deferrals to ensure market players to stabilize employment and people's livelihood.

Over the past five years, the balance of inclusive small and micro loans has grown at an average annual rate of 24%. Last year, the average interest rate on corporate loans dropped by 1 percentage point compared with five years ago, the lowest since the reform and opening up.

Specific state-owned financial institutions turned over their balance profits in accordance with the law, which strongly supported tax cuts and refunds.

In this process, insisting on not engaging in "flood irrigation" and not issuing excessive currency has provided the basic conditions for stabilizing domestic prices in the context of global inflation. Last year, consumer prices rose by only 2%, and the average annual increase in the ten-year cycle was also the same. Around 2%.

Finance, he said, must operate soundly and efficiently.

We have used market-oriented and rule-of-law methods to effectively prevent the risk of abnormal fluctuations in the financial market, and timely and prudently deal with risks such as small and medium-sized financial institutions, real estate companies, and online loans, keeping the bottom line of preventing systemic risks.

Of course, we must also be soberly aware of the existing problems. Maintaining financial stability and preventing risks are still long-term and arduous tasks.

　　Li Keqiang said that the current economic growth is picking up and the financial system should continue to improve its ability to serve the real economy. This is related to market expectations, and stable expectations are the "hard currency" of the market economy.

It is necessary to thoroughly implement a package of policies and subsequent measures to stabilize the economy, increase financial support for expanding consumption and effective investment, and optimize the structure, improve the private economy and the financing environment for small, medium and micro enterprises, prevent and defuse financial risks, and maintain the RMB exchange rate at a reasonable and balanced level. basically stable.

　　Liu He and He Lifeng participated in the above activities.