Sun Guofeng, Director of the Monetary Policy Department of the People’s Bank of China: Continue to adjust the structure and play a positive role in promoting stable growth

On December 30th, the peopleBankHold small and micro enterprise financial services and green finance press conferences.How to balance and increase the macroeconomic policies around 2022ChangheAdjust structure, peopleBankcurrencySun Guofeng, Director of the Policy Department, said that steady growthChangheStructural adjustment is complementary rather than antagonistic. Structural adjustment requires a relatively stable macro environment, and economic structure optimization can improve the stability of economic growth.Since the macro economy is an uninterrupted continuous process, the macro policy should be balanced and steadily increasingChangheAdjust the structure.

Sun Guofeng believes that it is necessary to always adhere to the general tone of the work of seeking progress while maintaining stability, do a good job in the design of inter-cyclical policies, improve the ability of counter-cyclical adjustment, stabilize the macroeconomic market, break first and then break, steadily and steadily, and continue to do a good job of addition and play in structural adjustment. Promote the positive role of stable growth.

peopleBankThe Monetary Policy Committee’s fourth quarter regular meeting of 2021 proposed that a prudent monetary policy should be flexible and appropriate, strengthen forward-looking, precise, and autonomous, and give full play to the dual functions of the total and structure of monetary policy tools, and be more proactive.

“To give full play to the dual functions of monetary policy tools in terms of total volume and structure, we must make overall plans and take into account both the total volume and structure.”CreditStability of total growth, maintainingcurrency supplyAnd the growth rate of the scale of social financing basically matches the growth rate of the nominal economy, and the overall financing cost of enterprises has been steadily reduced. On the other hand, structural monetary policy tools will actively implement the “addition”, continue to implement the inclusive re-lending and rediscount policy, do a good job in the conversion of the two direct tools, and make good use of the newly established carbon emission reduction support tool, 2000 RMB 100 million supports special refinancing for the clean and efficient use of coal, and guides financial institutions to increase loans to small and micro enterprises, technological innovation, and green development. At the same time, structural monetary policy tools also contribute to enhancing the stability of total credit growth. By giving full play to the dual functions of monetary policy tools in terms of aggregate and structure, it strongly supports high-quality economic development.

(Article source: ShanghaiSecuritiesNewspaper ChinaSecuritiesnetwork)

Article source: Shanghai Securities News·China Securities Net

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Original title: Sun Guofeng, Director of the Monetary Policy Department of the People’s Bank of China: Continue to adjust the structure and play a positive role in promoting stable growth