PBOC: Continue to Implement Moderately Loose Monetary Policy

The Governor of the People’s Bank of China, Pan Gongsheng, presided over a symposium with economic and financial experts, discussing and analyzing the current economic and financial situation. The meeting focused on topics such as monetary and financial policy support for the real economy, reform and improvement of the monetary policy framework, and stable development of financial markets, gathering expert opinions and suggestions.

Pan Gongsheng stated that this year, the People’s Bank of China has resolutely implemented the decisions and deployments of the Party Central Committee and the State Council. Building on the continued effectiveness of existing policies, it has also introduced several adjustments involving structural monetary policy tools. The moderately easing monetary policy has achieved good results, strongly boosting market confidence and stabilizing social expectations.

He further added that in the next phase, the People’s Bank of China will fully implement the spirit of the 20th Party Congress, the Fourth Plenary Session, the Central Economic Work Conference, and the deployment requirements of the “Government Work Report.” It will establish a scientific and prudent monetary policy system, continue to implement a moderately easing monetary policy, increase countercyclical and cross-cyclical adjustments, and create a suitable monetary and financial environment for the sustained and sound development of the economy.