On June 19, 2024, the Governor of the People's Bank of China, Pan Gongsheng, stated at the Lujiazui Forum that incorporating the trading of government bonds into the monetary policy toolbox did not mean that quantitative easing was necessary, but rather that it should be positioned as a basic channel for currency funding and a tool for liquidity management. Both buying and selling should be used in conjunction with other tools to create an appropriate liquidity environment. Analysts believe that China's economy is maintaining a good momentum of recovery, financial institutions are generally healthy and stable, and under steady monetary policy, there has not yet been a constraint of zero interest rate lower limit. The subscription and investment enthusiasm in the government bond market is quite high, and to a certain extent, there are signs of "asset scarcity", so there is no rationality and necessity in launching quantitative easing and it is unnecessary to equate the government bond trading, which is a routine operation, with quantitative easing.