People's Bank of China: Persisting in the Sound Monetary Policy

The meeting called for the following key tasks to be carried out in the second half of the year: First, we should adhere to a prudent monetary policy, maintain a moderate degree of relaxation, and make timely adjustments and fine-tuning. Flexible use of multiple items

The meeting called for the following key tasks to be carried out in the second half of the year: First, we should adhere to a prudent monetary policy, maintain a moderate degree of relaxation, and make timely adjustments and fine-tuning. We will use a variety of monetary policy instruments flexibly, make timely and appropriate counter-cyclical adjustments, maintain reasonable and abundant liquidity, and guide the growth of the broad money supply and the scale of social financing to match the growth of nominal GDP. Second, we will strengthen policy coordination and coordination, speed up efforts to clear the transmission mechanism of monetary policy to the real economy, and further stimulate the vitality of market micro-entities. We will continue to improve financial services for small and medium-sized enterprises, deepen the comprehensive reform of financial services for private and small enterprises, ensure that the number of loans granted to small and medium-sized enterprises increases, the number of loans extended and the cost of loans reduced appropriately, and support high-quality private enterprises in expanding bond financing. We will step up efforts to implement policies to alleviate poverty in the financial sector and revitalize rural financial services, so as to promote high-quality and sustainable poverty eradication. Third, we will resolutely fight hard to prevent and defuse major financial risks. In accordance with the deployment and requirements of the three-year action plan for preventing and defusing major risks, we will earnestly implement it. We will address and resolve all kinds of potential risks, keep to the bottom line without systemic financial risks, and protect the legitimate rights and interests of the people to the maximum extent possible. We need to prevent risks on the basis of steady growth, keep the main entrance open and the back door closed, and while maintaining the high pressure and fighting the situation, encourage small and distinctive financial institutions to carry out their business in accordance with the law. We must adhere to the position that the house is used for living, not for frying, implement the long-term management mechanism of real estate, and continue to strengthen the control of the real estate market funds in accordance with the basic principles of "due to the city's policy". Fourth, we will give full play to the overall role of leading efforts to deepen structural reforms on the financial supply side. We will continue to deepen the market-oriented reform of interest rates and effectively reduce the actual cost of financing for enterprises. We will improve the framework and evaluation system for macro-prudential management. We will strengthen coordination between the central and local financial supervision and regulation, and improve the local financial supervision system and mechanisms. We will strengthen the top-level design of legislation in the financial sector. Fifth, we will expand financial opening to the outside world. We will continue to relax market access, steadily promote the opening of RMB capital accounts, and promote the expansion of cross-border use of the renminbi. Sixth, we will continue to improve financial services and management. We will do a solid job in comprehensive statistics on the financial sector, supervision of payment agencies, information security, new RMB issuance, Treasury supervision and administration, credit collection services and personal credit information protection, anti-money laundering supervision, and financial consumption rights and interests protection. Seventh, it is necessary to develop financial science and technology, strengthen follow-up and research, and actively meet new challenges. We will speed up the research and development of the legal digital currency(DC/EP), follow up on the development trends of virtual currencies at home and abroad, and continue to improve the management of financial risks on the Internet. Eighth, we will continue to strengthen the interpretation of central bank policies. We will promptly respond to social concerns, improve the multi-level expert consultation system, and stabilize and guide market expectations.
The meeting emphasized that Party organizations at all levels of the People's Bank of China should follow the general requirements of the theme education of "Do not forget the initial heart and remember the mission." They should study and educate, investigate, examine problems, and rectify and implement them throughout, so as to further deepen the Party's construction work. Ensure that thematic education achieves tangible results. First, we will continue to study, educate and investigate. Party committees at all levels should focus on studying and implementing Xi Jinping's thought of socialism with Chinese characteristics in the new era, and earnestly study the original principle of enlightenment. We should thoroughly study and implement the important statement of General Secretary Xi Jinping on "Keeping your heart in mind and your mission in mind" and the important speeches and directives in the economic and financial fields, and organize special study seminars. Indeed, we maintain a high degree of consistency with the CPC Central Committee, with Comrade Xi Jinping at its core, both ideologically, politically and in actions. We must bear in mind the original heart and mission of the Chinese Communists, focus on the initial heart and mission of the financial sector, adapt our standing position and style of work to the initial heart and mission, make our ability truly capable of carrying out our mission, and resolutely oppose formalism and bureaucracy. The second is the question of real guns. Deepen the examination and analysis work and carry forward the spirit of self-revolution. In accordance with the request of the sixth meeting of the State Council's Financial Committee, we need to combine the leadership and professionalism of the Party to enhance five capabilities: the ability to provide financial services to the real economy, the ability to guard against financial risks, the ability to adapt to internationalization, and the ability to enhance financial innovation. Governance capacity of financial institutions. Third, seriously implement the rectification requirements. Party members and cadres should put forward effective rectification measures and set up rectification ledgers in response to the list of issues examined. To establish Chali's reform, that is, to know and change, we must keep an eye on what can not be solved for a while, and continue to rectify it. The problem will not rest until it is resolved. Fourth, we will promote the development of the Party in a comprehensive and strict manner. Party committees at all levels, especially the leading comrades in charge, should strengthen their political responsibilities and fulfill their principal responsibilities. We will adhere to Democratic centralism, strictly observe political discipline and political rules, implement the reform of the discipline inspection and supervision system of the People's Bank of China, dare to be accountable and accountable, promote high-quality inspection and inspection coverage, earnestly carry out special rectification of employees 'abnormal behavior, and earnestly strengthen internal management and inner-party supervision. We will earnestly implement the spirit of the eight central regulations and continue to vigorously rectify formalism and bureaucracy. Fifth, we will resolutely punish corruption in the financial sector. The whole system should thoroughly implement General Secretary Xi Jinping's important speech at the Third Plenary Session of the 19th Central Commission for Discipline Inspection, deepen understanding of the complex and grave situation in the fight against corruption, earnestly draw lessons from serious cases of violations of discipline and law in the financial sector, and conduct in-depth warning and education to learn from the case. We need to promote reform through cases, focus on the collusion of interests and ties behind the financial turmoil, stick to the strict word, and combine the characteristics of the industry to constantly strengthen the fight against corruption.
The meeting called on the People's Bank of China system to change its way of thinking and working style, to closely integrate thematic education with the spirit of implementing the important speeches and instructions of General Secretary Xi Jinping on financial work, and to better shoulder the major tasks entrusted to it by the CPC Central Committee. It is closely linked with vigorously carrying forward the revolutionary tradition and fine style of work. First, we will further improve the initiative of the overall service situation and strive for real solutions and tangible results. Second, we must be sensitive and decisive in preventing systemic financial risks. Timely and accurate judgment of the degree of financial risk and transmission channels, comprehensive consideration of the potential impact of risk disposal on the market, grasp the strength and rhythm of the work, resolutely block the spread of risk. Third, we will promptly implement the financial regulatory coordination mechanism. We will promptly establish a coordination mechanism for local financial supervision and regulation in the offices of the financial commissions, and promote the establishment of coordination mechanisms for local financial supervision and risk management. Fourth, we should take the initiative to "take the first two steps" to do a good job in financial services, so that the people feel comfortable and have a sense of gain. Fifth, we will actively combat illegal financial activities such as financial advertising. Sixth, we should learn from international experience. We must not only emancipate our minds and have an international perspective, but also proceed from reality and do a good job of investigation and argumentation. Seventh, we will further enhance the concept and thinking of the rule of law and improve our ability to use it and solve problems in a law-based manner. Eighth, encourage cadres to be brave and take charge of business. We will further improve the assessment and evaluation mechanism for cadres, and dare to use and be good at employing people. Adhere to the combination of strict supervision and love, pay equal attention to incentives and constraints, and continue to use qualified cadres who are accountable and have outstanding performance afterwards, and establish a clear officer orientation.
The meeting called on the cadres and staff of the People's Bank of China system to unite more closely around the Party Central Committee, with Comrade Xi Jinping at its core, and to take guidance from Xi Jinping's thought of socialism with Chinese characteristics in the new era. Meet the 70th anniversary of the founding of the People's Republic of China with excellent results.
Members of the leadership team of the Foreign Exchange Bureau, chief accountant, chief economist, comrades in charge of various departments of the People's Bank of China and Party committees, heads of inspection teams, counselors, comrades in Beijing units, and comrades in charge of various overseas agencies. The inspection and inspection team is responsible for comrades attending the meeting at the main venue. The leading members and departments of the branches and above of the sub-provincial centers of the People's Bank of China are mainly responsible for the comrades. The sub-branch of the city center is mainly responsible for the comrades, and the Beijing and other units are responsible for the comrades attending the meeting at the overflow meeting. Office of the Central Financial and Economic Commission, State Council

Members of the leadership team of the Foreign Exchange Bureau, chief accountant, chief economist, comrades in charge of various departments of the People's Bank of China and Party committees, heads of inspection teams, counselors, comrades in Beijing units, and comrades in charge of various overseas agencies. The inspection and inspection team is responsible for comrades attending the meeting at the main venue. The leading members and departments of the branches and above of the sub-provincial centers of the People's Bank of China are mainly responsible for the comrades. The sub-branch of the city center is mainly responsible for the comrades, and the Beijing and other units are responsible for the comrades attending the meeting at the overflow meeting. The relevant comrades of the Central Financial and Economic Commission Office, the General Office of the State Council, and the Audit Office Financial Audit Bureau were invited to attend the meeting.