news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

on september 5, the state council information office held a series of press conferences on "promoting high-quality development". lu lei, deputy governor of the people's bank of china, and li hongyan, deputy director of the state administration of foreign exchange, attended the press conference to introduce the situation and answer questions from reporters.

central bank: there is still room for the statutory deposit reserve ratio to fall

zou lan, director of the monetary policy department of the people's bank of china, said that the average statutory reserve ratio of financial institutions is about 7% at present, and there is still room for decline. the people's bank of china will reasonably control the intensity and rhythm of monetary policy regulation based on the economic recovery, the achievement of goals and the specific problems facing macroeconomic operations.

the central bank talks about buying and selling government bonds: focusing on base money supply and liquidity management

zou lan said that the central bank's purchase and sale of treasury bonds is mainly positioned for base money injection and liquidity management. it can be bought or sold, and through flexible combination with other tools, it can improve the scientificity and accuracy of short-, medium- and long-term liquidity management.

the central bank: continue to promote the steady decline of social comprehensive financing costs. at the same time, the further decline of deposit and loan interest rates still faces certain constraints.

zou lan said that in terms of interest rates, the central bank continued to promote a steady decline in the overall social financing costs. at the same time, it should also be noted that due to factors such as the diversion of bank deposits to asset management products and the narrowing of banks' net interest margins, there are still certain constraints on further downward movement of deposit and loan interest rates.

central bank: monetary policy will increase counter-cyclical regulation

zou lan said that china's monetary policy will continue to be based on china's own policies, give priority to supporting domestic economic development, increase counter-cyclical adjustments in terms of total volume, flexibly use a variety of monetary policy tools, and maintain a reasonable growth in the total amount of money and credit.

the central bank discusses the reform of the monetary policy framework: gradually reducing the focus on quantitative targets and studying and improving the statistical caliber of money supply

zou lan said that the central bank is considering optimizing the intermediate variables of monetary policy regulation. in recent years, my country's economic structure transformation has accelerated, the financial market has been developing, and the financing structure has been changing. these have led to a decline in the measurability, controllability and relevance of money supply to the economy. we will gradually reduce our focus on quantitative targets and use them more as observable, reference and prospective indicators, and pay more attention to the role of price-based regulatory tools such as interest rates. at the same time, combined with changes in the situation, we will study and improve the statistical caliber of money supply to make monetary statistics more in line with actual conditions.

at the end of july, foreign investors held 4.5 trillion yuan of chinese bonds, a record high

lu lei, deputy governor of the people's bank of china, said that the people's bank of china continues to promote high-level financial opening up and actively participates in international financial governance and cooperation. as of the end of july, foreign investors held 4.5 trillion yuan of chinese bonds, a record high. the share of rmb in global trade financing is 6%, ranking second. the people's bank of china continues to strengthen communication and cooperation with international financial organizations and monetary authorities of major economies, actively participates in international financial governance, and enhances its openness in expanding international cooperation.

central bank: the number of high-risk small and medium-sized banks has been reduced by nearly half from the peak

lu lei, deputy governor of the central bank, said at the press conference that the people's bank of china has continuously improved its risk prevention and disposal mechanism to prevent systemic financial risks. currently, the number of high-risk small and medium-sized banks has been reduced by nearly half from the peak.

central bank: continue to adhere to supportive monetary policy and speed up the implementation of policy measures that have been issued

when talking about the next monetary policy orientation, lu lei, deputy governor of the people's bank of china, said that the people's bank of china will continue to adhere to a supportive monetary policy, accelerate the implementation of the policy measures that have been introduced, and more effectively support the high-quality development of the economy.

lu lei elaborated on the three levels of total volume, interest rate and structure: in terms of total volume, a variety of monetary policy tools will be used in combination to maintain a reasonable level of liquidity, guide banks to enhance the stability and sustainability of loan growth, and keep the scale of social financing and money supply in line with the expected targets of economic growth and price levels; in terms of interest rates, the recent downward trend of policy interest rates and loan market benchmark rates will be brought into play, thereby promoting a steady decline in corporate financing and household credit costs; in terms of structure, efforts will be made to implement existing tools and promote the implementation of newly established tools, mainly to promote the efficiency of fund use and increase high-quality financial services in major strategic key areas and weak links.

state administration of foreign exchange: institutional opening up in the foreign exchange field will help build a new open economic system at a higher level

li hongyan, deputy director of the state administration of foreign exchange, said that we should adhere to serving the real economy and strengthen the supply of foreign exchange facilitation policies. we should adhere to promoting reform through opening up and steadily expand high-level institutional opening up in the foreign exchange field. we should adhere to the benign interaction between high-quality development and high-level security, and maintain the stability of the foreign exchange market and the national economic and financial security. we should implement the deployment requirements of the third plenary session of the 18th cpc central committee on high-level opening up with the spirit of "nailing down", increase the planning and promotion of reforms, and strengthen reform evaluation and follow-up.