金十整理：“一行一局一会”发布会重点一览——降准降息“双管齐下”！一揽子金融政策重磅推出

Monetary Policy Measures - The central bank has introduced three categories of measures, including quantity-based policies to increase long-term liquidity supply, price-based policies to lower interest rates, and structural policies to enhance the implementation of monetary tools [1][2] - The reserve requirement ratio has been reduced by 0.5 percentage points, bringing the average level down from 6.6% to 6.2%, which is expected to provide approximately 1 trillion yuan in long-term liquidity [1] - The policy interest rate has been lowered by 0.1 percentage points, with the 7-day reverse repurchase rate decreasing from 1.5% to 1.4%, likely leading to a similar decline in the Loan Prime Rate (LPR) [1] Structural Financial Policies - A new 500 billion yuan "service consumption and pension refinancing" initiative has been established to guide commercial banks in increasing credit support for service consumption and pension sectors [2] - The quota for agricultural and small enterprise refinancing has been increased by 300 billion yuan to support banks in expanding loans to rural, small, and private enterprises [2] - The central bank has introduced a risk-sharing tool for technology innovation bonds, providing low-cost refinancing funds to purchase these bonds [2] Regulatory Measures - The Financial Regulatory Bureau plans to implement eight incremental policies, including accelerating the introduction of financing systems compatible with new real estate development models to stabilize the real estate market [3] - There will be adjustments to regulatory rules, with a 10% reduction in risk factors for stock investments to encourage insurance companies to increase market participation [3] - Policies supporting small and private enterprises' financing will be introduced to enhance coordination in financing efforts [3] Market Stability Initiatives - The China Securities Regulatory Commission is focused on maintaining market stability and gradually advancing market openness, including enhancing cross-border regulatory cooperation [4] - Measures will be taken to deepen reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market, improving system inclusiveness and adaptability [4] - The commission is also working on revising major asset restructuring management rules to support mergers and acquisitions more effectively [4]