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央行发声!货币政策,重要信号
Shang Hai Zheng Quan Bao·2025-08-01 15:06

Core Viewpoint - The People's Bank of China (PBOC) emphasizes the implementation of moderately loose monetary policies to support technological innovation, boost consumption, assist small and micro enterprises, and stabilize foreign trade [10][18]. Monetary Policy - The PBOC plans to maintain ample liquidity and guide financial institutions to ensure reasonable credit growth, aligning social financing scale and money supply growth with economic growth and price level expectations [10][18]. - Various monetary policy tools will be utilized, including lowering the reserve requirement ratio and adjusting policy interest rates to reduce financing costs [13][14]. Financial Support for Key Sectors - The PBOC aims to enhance financial services for the real economy, focusing on supporting technological innovation, consumption, small and micro enterprises, and foreign trade [14][19]. - Specific measures include increasing financing support for key areas such as technology and green industries, with loans in these sectors growing by 12.5% and 25.5% year-on-year, respectively [14]. Risk Management - The PBOC is committed to preventing and mitigating financial risks in key areas, including local government financing platforms and major institutions [14][19]. - A macro-prudential and financial stability committee has been established to enhance risk monitoring and management [14]. Internationalization of the Renminbi - The PBOC is focused on promoting the international use of the Renminbi, enhancing its financing capabilities, and optimizing policies for cross-border listings of domestic enterprises [19][20]. Financial Market Reform - The PBOC plans to advance the construction of a "technology board" in the bond market and expand the issuance of technology innovation bonds [19][20]. - Efforts will be made to improve the regulatory framework for financial markets and infrastructure, including the revision of relevant laws and regulations [19][20]. Governance and Internal Management - The PBOC emphasizes the importance of strict governance and internal management, including the implementation of the central inspection rectification and adherence to the Party's regulations [21].