Original title: Central Bank: Prudent Monetary Policy Must Be Flexible, Accurate, Reasonable and Appropriate
The reporter learned from the website of the People’s Bank of China on June 28 that the second quarter of 2021 (the 93rd in total) regular meeting of the Monetary Policy Committee of the People’s Bank of China will be held in Beijing on the 25th. The meeting pointed out that a prudent monetary policy should be flexible, precise, reasonable and appropriate, grasp the time and effectiveness of the policy, maintain a reasonable and sufficient liquidity, maintain the growth rate of the money supply and the scale of social financing to basically match the nominal economic growth rate, and maintain the basic macro leverage ratio. Stability, maintaining the overall stability of the economy, and enhancing the resilience of economic development. Further play the leading role of measures such as re-lending, rediscounting, and direct monetary policy tools to the real economy, implement the deferred principal and interest payment policy for inclusive small and micro enterprise loans and the extension of the credit loan support plan, and implement comprehensive policies to support coordinated regional development , Intensify efforts to support inclusive finance, and guide financial institutions to increase support for technological innovation, small and micro enterprises, and green development.
The meeting also pointed out that deepening the structural reform of the financial supply side, guiding the focus of major banks to sink, and promoting small and medium-sized banks to focus on their main responsibilities and main businesses, enhance the vitality and resilience of the financial market, and improve the highly adaptable, competitive, and inclusive Modern financial system. Improve the market-based interest rate formation and transmission mechanism, improve the central bank’s policy interest rate system, optimize deposit interest rate supervision, adjust the method for determining the self-discipline upper limit of deposit interest rates, continue to unleash the potential for reform of loan market quoted interest rates, and promote further reductions in actual loan interest rates. Deepen the reform of exchange rate marketization, strengthen the flexibility of the RMB exchange rate, guide enterprises and financial institutions to adhere to the concept of “risk neutrality”, strengthen anticipation management, promote internal and external balance, and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level. Build a financial system to effectively support the real economy, improve the financial support innovation system, guide financial institutions to increase mid- and long-term loans to manufacturing, and strive to make financial support for private enterprises compatible with their contribution to economic and social development, and research and establish carbon Emission reduction support tools to improve the green financial system with the goal of promoting carbon peak and carbon neutrality. Promote high-level two-way opening up of finance, and improve economic and financial management capabilities and the ability to prevent and control risks under open conditions.
.