Shanghai Headquarters of the People’s Bank of China Convenes 2024 Monetary and Credit Work Conference
The Shanghai headquarters of the People’s Bank of China recently held the 2024 Monetary and Credit Work Conference to convey and implement the spirit of the 2024 People’s Bank of China’s Monetary and Credit Work Conference and deploy Shanghai’s monetary and credit work in 2024. The conference was attended by the principals of more than 170 banking financial institutions in the city, with five institutions making exchange speeches.
Sun Hui, deputy director of the Shanghai Headquarters of the People’s Bank of China, delivered a speech at the conference, emphasizing the need for all banking financial institutions to persist in seeking progress while maintaining stability and promoting stability through establishing first and then breaking. The conference also stressed the importance of accurately grasping the current situation and actively responding to complex situations.
The meeting reviewed and summarized Shanghai’s monetary and credit work and economic and financial operations in 2023, and analyzed the current situation facing Shanghai’s monetary and credit work, ensuring that task requirements were clarified. It was emphasized that prudent monetary policies must be fully implemented, with an overall focus on continuously consolidating the foundation for stability and improvement and providing stronger financial support for promoting high-quality economic development.
Specific arrangements were made for Shanghai’s monetary and credit work in 2024, including maintaining reasonable growth in the total amount of money and credit, achieving balanced credit distribution, optimizing the credit supply structure, revitalizing inefficiently occupied resources, doing a good job in real estate finance, and continuing to unleash the results of the loan prime rate (LPR) reform.
Overall, the conference emphasized the need for all banking financial institutions in Shanghai to meet the effective financing needs of the real economy, enhance the stability and sustainability of total credit growth, and strive to create a good monetary and financial environment. These efforts are aimed at providing stronger financial support for promoting high-quality economic development and boosting consumption and investment willingness in Shanghai.