Zou Lan, Deputy Governor of the People's Bank of China, stated that the central bank will intensify the implementation of more proactive macro policies in accordance with the spirit of the Central Political Bureau meeting, effectively utilizing a moderately loose MMF policy. Based on domestic and international economic conditions and the operation of the financial market, timely reductions in reserve requirements and interest rates will be made to maintain ample liquidity. The dual functions of the total amount and structure of monetary policy tools will be leveraged effectively, and new structural monetary policy tools will be created to ensure precise financial support in key areas focused on stabilizing employment and growth.
This includes providing precise support for stabilizing employment, promoting the implementation of entrepreneurial guarantee loan policies with greater strength, and increasing support for key groups such as returning rural migrant workers, new citizens, university graduates, and women in terms of entrepreneurship and employment. Precise efforts will also be made to stabilize foreign trade by guiding Financial Institutions that have a high dependence on foreign trade, are temporarily encountering difficulties, and whose products are competitive, to not withdraw or refuse loans, ensuring reasonable financing needs are met. Additionally, there will be precise efforts to promote Consumer spending, focusing on enhancing service consumption in key areas such as culture, tourism, Sports, Dining, Lodging, Education, and training, increasing financial support, and creating policy synergies with Other policies to significantly improve and enhance service consumption supply, meeting the growing diverse service consumption needs of the public. Furthermore, precise efforts will be made to expand investment by supporting Financial Institutions to innovate financial instruments and increase the issuance of medium and long-term loans, providing financing support for key areas such as 'two new' and 'two heavy'.
In addition, the central bank is also researching to enrich the policy toolbox and will timely launch incremental policies to assist in stabilizing employment, stabilizing enterprises, stabilizing the market, and stabilizing expectations, effectively consolidating the fundamentals of economic development and social stability.
