Central Bank: Control The Excessive Price Rise Of Monetary Conditions &Nbsp; Implement The Prudent Policy.

The working conference of the people's Bank of China was held in Beijing on from January 5th to 6th. The conference named "stabilizing prices" as the first task of the current and future period.

The central bank put forward four tasks this year: stabilizing prices, promoting pformation, preventing risks and pushing forward reform.

The central bank said it will implement a sound monetary policy and further strengthen macro Prudential Management.

We should control the total liquidity gate and guide the reasonable growth of the total amount of money and credit so as to maintain a reasonable scale of social financing.

According to the changes in the economic and financial situation and foreign exchange movements, we should comprehensively use the price and quantity tools such as interest rate, deposit reserve ratio and open market operation to maintain a reasonable and moderate liquidity in the banking system.

The implementation of differential reserve dynamic adjustment measures will guide monetary and credit growth smoothly and moderately.

Adhering to the principle of "treating differently, having help and controlling", we should strengthen the guidance of credit policies, and strive to guide and promote the optimization of credit structure.

We should continue to optimize the financial ecology of small and medium-sized enterprises and broaden the financing channels for SMEs in many ways.

We should vigorously promote the innovation of rural financial products and services, and comprehensively improve and improve the financial services for agriculture, rural areas and farmers.

Implement differentiated housing credit policy and promote the healthy development of real estate finance.

In increasing financial reform and promoting innovation in financial products, the central bank said it will steadily push forward the reform of interest rate marketization and RMB exchange rate formation mechanism.

Continue to cultivate the benchmark interest rate of money market.

We should strengthen the assessment of the interest rate pricing ability of financial institutions and guide them to enhance their risk pricing ability.

We should further improve the RMB exchange rate formation mechanism, give full play to the role of market supply and demand in the formation of exchange rate, adjust the basket currency, enhance exchange rate flexibility, maintain the basic stability of the RMB exchange rate at a reasonable and balanced level, and promote the basic balance of international payments.

We should accelerate the development of the foreign exchange market and promote the innovation of exchange rate risk management tools.

In the aspect of risk prevention, the central bank said that the non bank financial institutions such as trust companies and financial companies should be included in the monitoring system of local legal entities, and the monitoring of new rural financial institutions, informal financing activities, financial holding companies and cross financial instruments should be intensified. We should study and formulate management measures for financial holding companies and policy measures to reduce the risks of domestic systemic financial institutions.

We should continue to do a good job in risk management of high-risk financial institutions.

We will continue to do well in China's first "financial sector assessment plan".

Closely monitor cross border capital flows.

We should improve the abnormal flow of cross-border capital to deal with the plan.

The central bank also said it would build an institutional framework for macro Prudential Management of counter cyclical finance, while constantly paying attention to the use of traditional monetary policy tools, and constantly enriching and innovating the tools and means of macro Prudential Management.

We should actively and steadily push forward the marketization of interest rates, the reform of the RMB exchange rate formation mechanism and the capital account convertibility process, and steadily open wider to the outside world.

At the same time, we should continue to promote the reform of international financial institutions, promote the international community to strengthen the supervision of systemically important institutions, promote the consistency of international regulatory standards, and improve the pertinence and effectiveness of supervision.