The Central Bank Continues To Stabilize Financial Markets And Implement Prudent Monetary Policy.

Two major changes in the central bank's annual meeting: stabilizing financial markets and upgrading expectations

Flexible use of various types in the second half of the year

Tools, timely fine tuning, maintaining moderate liquidity, and achieving reasonable growth in money and credit and social financing scale.

"We should further establish and improve risk warning, recognition and disposal mechanisms, focus on stabilizing financial market expectations, and effectively prevent and mitigate financial risks."

The reporter noted that the speech of the central bank working conference held in from August 3rd to 4th on the issue was more comprehensive and upgraded than the July 28th statement.

In the July 28th central bank's work preheating press release, it only put forward "stabilizing financial market expectations", and this meeting clearly proposed the establishment of corresponding mechanisms, and deliberately emphasized "focus" to stabilize financial market expectations.

Another obvious change is that the central bank stressed that the "timely" pre fine adjustment should be carried out in a timely manner. Most of the previous emphasis was on "timely and appropriate" pre fine-tuning.

The two new changes of the central bank's annual meeting will play an important role in the stable development of the capital market.

The meeting held that since the beginning of this year, faced with the complicated economic and financial situation at home and abroad, under the correct leadership of the Party Central Committee and the State Council, the people's Bank of China has conscientiously implemented the spirit of the central economic work conference, actively responded to various risks and challenges, and made efforts to promote stable and sustainable economic development and structural pformation and upgrading.

First, we must strengthen and innovate macroeconomic regulation and control.

We should continue to implement a prudent monetary policy, pay more attention to tightness and moderation, and adjust the fine-tuning timely and appropriately.

We should make flexible use of open market operations, maintain a reasonable and abundant liquidity, and achieve a reasonable growth in the scale of money and credit and social financing.

More attention should be paid to directional regulation, the three implementation of targeted reduction, and guidance to financial institutions to increase support for small and micro enterprises, agriculture, rural areas and farmers and major water conservancy projects.

We should strengthen macro credit policy guidance and guide financial institutions to further optimize the credit structure.

The two is to push forward vigorously.

Development.

The deposit insurance system was launched steadily.

The interest rate liberalization has been accelerated, and the upper limit of the floating interest rate interval has been expanded to 1.5 times the benchmark interest rate.

Policy oriented financial institutions have made breakthroughs in the reform.

Promulgated the guiding opinions on promoting the healthy development of Internet finance, leading the formation of China Internet Finance Association.

The cross-border use of RMB has further expanded, and cross-border financial pactions have been continuously facilitated.

Actively promoting the development and opening up of the financial market, the bond market is becoming richer and richer, and the group of institutional investors is further expanding.

System construction and supervision and management have been strengthened.

The reform of the foreign exchange management system has been deepened and foreign exchange reserves have been continuously innovating.

Three, we should earnestly safeguard financial stability.

We should strengthen financial supervision and coordination, effectively deal with various financial risks, and firmly guard against the bottom line of regional systemic financial risks.

The four is to raise the level of financial services and management.

Financial statistics, payment and settlement, currency issuance, treasury manager, credit management, anti money laundering, and protection of financial consumer rights and interests have been steadily advancing.

The five is to carry out the "three strict, three real" thematic education, and carry out theoretical study and seminar together closely.

The meeting pointed out that the tasks of macroeconomic regulation and control, reform, development and stability in the second half of this year are still very heavy.

The people's bank system should take the initiative to adapt to the new normal of economic development, adhere to the general keynote of steady progress, maintain steady growth, promote reform, adjust the structure, improve people's livelihood and prevent risks.

We will continue to implement prudent monetary policy, innovate and improve it.

The way of thinking and methods pay more attention to tightness and moderation.

We should use various monetary policy tools flexibly, adjust the fine tune in time, maintain moderate liquidity, and achieve reasonable growth in money and credit and social financing scale.

We should pay attention to making good use of increments, revitalize the stock, improve and optimize the financing structure and credit structure, reduce the cost of social financing, and increase financial support for key areas and weak links.

We should further improve the RMB exchange rate formation mechanism and keep the RMB exchange rate basically stable at a reasonable and balanced level.

We will deepen financial reform and opening up in an all-round way, enhance the dynamism of the financial system, improve the efficiency of financial operation and serve the real economy.

We will vigorously promote the construction of financial market infrastructure and comprehensively enhance the level of financial services and management.