Central Bank: First, total liquidity is maintained, and social financing conditions are at a relatively appropriate level. Use a variety of monetary policy instruments in a flexible manner to maintain abundant liquidity in the banking system. Continuously improve and optimize short-term interest rate control mechanisms to enhance the accuracy and effectiveness of interest rate control in the money market. Guide financial institutions to distribute credit in a balanced manner to fully meet the effective credit needs of the real economy. Second, the price promotes the operation of comprehensive social financing at a low cost. On the basis of lowering interest rates on structural monetary policy instruments at the beginning of the year, interest rates on supplementary mortgage loans were further lowered by 0.25 percentage points, and efforts to clarify comprehensive financing costs for corporate loans were continued to be promoted, and intermediate financing costs were reduced. Continue to release the effectiveness of the loan market quoted interest rate reform, effectively play the role of a market-based adjustment mechanism for deposit interest rates, and enhance the transmission efficiency of monetary policy. The third is to structurally increase financial support in key areas. Further adjust and improve a number of structural monetary policy instruments, include the “six networks” construction in the scope of mortgage supplementary loan support, increase the reloan amount for scientific and technological innovation and technological transformation by 200 billion yuan, raise the support ratio from 60% to 100%, and increase the amount of small reloans to support agriculture by 500 billion yuan. Of these, the reloan amount for private enterprises has increased by 300 billion yuan to further support the transformation and upgrading of the economic structure and high-quality development. Fourth, the exchange rate remains basically stable. Insist that market supply and demand play a decisive role in exchange rate formation, give full play to the adjustment function of the exchange rate on the macroeconomy and balance of payments, and adopt comprehensive measures to maintain the basic stability of the RMB exchange rate at a reasonable equilibrium level. Encourage financial institutions to improve the level of exchange rate safe-haven services and promote the integrated development of the onshore and offshore RMB markets. Fifth, establish a long-term mechanism for risk prevention to steadily promote risk mitigation in key regions and key institutions.

Central Bank: First, total liquidity is maintained, and social financing conditions are at a relatively appropriate level. Use a variety of monetary policy instruments in a flexible manner to maintain abundant liquidity in the banking system. Continuously improve and optimize short-term interest rate control mechanisms to enhance the accuracy and effectiveness of interest rate control in the money market. Guide financial institutions to distribute credit in a balanced manner to fully meet the effective credit needs of the real economy. Second, the price promotes the operation of comprehensive social financing at a low cost. On the basis of lowering interest rates on structural monetary policy instruments at the beginning of the year, interest rates on supplementary mortgage loans were further lowered by 0.25 percentage points, and efforts to clarify comprehensive financing costs for corporate loans were continued to be promoted, and intermediate financing costs were reduced. Continue to release the effectiveness of the loan market quoted interest rate reform, effectively play the role of a market-based adjustment mechanism for deposit interest rates, and enhance the transmission efficiency of monetary policy. The third is to structurally increase financial support in key areas. Further adjust and improve a number of structural monetary policy instruments, include the “six networks” construction in the scope of mortgage supplementary loan support, increase the reloan amount for scientific and technological innovation and technological transformation by 200 billion yuan, raise the support ratio from 60% to 100%, and increase the amount of small reloans to support agriculture by 500 billion yuan. Of these, the reloan amount for private enterprises has increased by 300 billion yuan to further support the transformation and upgrading of the economic structure and high-quality development. Fourth, the exchange rate remains basically stable. Insist that market supply and demand play a decisive role in exchange rate formation, give full play to the adjustment function of the exchange rate on the macroeconomy and balance of payments, and adopt comprehensive measures to maintain the basic stability of the RMB exchange rate at a reasonable equilibrium level. Encourage financial institutions to improve the level of exchange rate safe-haven services and promote the integrated development of the onshore and offshore RMB markets. Fifth, establish a long-term mechanism for risk prevention to steadily promote risk mitigation in key regions and key institutions.