央行定调！降息、人民币，重磅信号——

Core Viewpoint - The People's Bank of China (PBOC) emphasizes the continuation of a moderately loose monetary policy to support economic growth and manage financial risks, while enhancing financial services for key sectors [3][5][10]. Monetary Policy - The PBOC plans to implement a moderately loose monetary policy, utilizing various tools to maintain ample liquidity and guide financial institutions towards reasonable credit growth [5][8]. - Analysts predict potential interest rate cuts and reserve requirement ratio reductions in the second half of the year, with expectations of 1-2 rate cuts totaling 20-30 basis points [9]. - The focus remains on effective execution of existing policies to support economic recovery and reduce financing costs [9][10]. Financial Support and Risk Management - The PBOC aims to enhance financial support for technology innovation, consumption, small and micro enterprises, and stabilize foreign trade [5][10]. - There is a commitment to address structural financial risks and improve monitoring and assessment of financial stability [10][11]. - The PBOC encourages the use of electronic invoicing for accounts receivable to mitigate risks [9]. Internationalization of the Renminbi - The PBOC is advancing the internationalization of the Renminbi, promoting its use in trade settlements and enhancing its role in global asset allocation [10][11]. - The bank is focused on developing offshore Renminbi markets and improving the infrastructure for cross-border payments [11]. Financial Market Reforms - The PBOC is pushing for reforms in the bond market, including the establishment of a "technology board" and the expansion of technology innovation bond issuance [11]. - There is an emphasis on deepening international financial cooperation and participating in global financial governance [11].