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Central Bank: Implement various measures to prevent and resolve risks in key areas such as real estate, local government debt, and small and medium-sized financial institutions

2024-08-10

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[Central Bank: Implement various measures to prevent and resolve risks in key areas such as real estate, local government debt, and small and medium-sized financial institutions] Cailianshe reported on August 9 that the central bank released the China Monetary Policy Implementation Report for the second quarter of 2024. Adhere to focusing on key points, being reasonable and moderate, and making progress and retreat, actively develop science and technology finance, green finance, inclusive finance, pension finance, and digital finance, and increase high-quality financial services for major strategies, key areas, and weak links. Smooth the monetary policy transmission mechanism, enrich and improve the monetary policy toolbox, and improve the efficiency of fund use. Adhere to the managed floating exchange rate system based on market supply and demand, adjusted with reference to a basket of currencies, give play to the decisive role of the market in the formation of exchange rates, adopt comprehensive measures, stabilize expectations, resolutely correct pro-cyclical behaviors, prevent the formation of unilateral consistent expectations and self-reinforcement, resolutely prevent the risk of overshooting of the exchange rate, and keep the RMB exchange rate basically stable at a reasonable and balanced level. Implement various measures to prevent and resolve risks in key areas such as real estate, local government debt, and small and medium-sized financial institutions, and adhere to preventing and resolving financial risks in promoting high-quality economic development.
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