央行行长答海报新闻：推出债券市场“科技板”，基本建成多层次的债券市场框架

Core Viewpoint - The People's Bank of China (PBOC) is focused on building a modern central banking system to support high-quality economic development and financial stability during the 14th Five-Year Plan period [1][4]. Group 1: Monetary Policy Framework - The PBOC aims to construct a scientific and robust monetary policy system, optimizing the intermediate variables of monetary policy and clarifying the central bank's policy interest rates [4]. - Emphasis will be placed on using price-based regulatory tools, such as interest rates, to enhance the effectiveness of monetary policy [4]. - The PBOC will continue to enrich its toolbox of monetary policy instruments, creating a conducive liquidity environment and implementing various structural monetary policy tools to optimize credit allocation [4]. Group 2: Macro-Prudential Policy Framework - The PBOC is enhancing its macro-prudential policy framework and systemic financial risk prevention and resolution mechanisms [4]. - There will be improvements in the financial risk monitoring, early warning, and resolution systems, with a focus on macro-prudential management in key areas [4]. - The regulatory framework for systemically important financial institutions is being strengthened, significantly improving the ability to prevent systemic financial risks [4]. Group 3: Financial Market Development - The PBOC is working on establishing a more comprehensive financial market and infrastructure system, including the launch of a "Technology Board" in the bond market [4]. - The bond market is seeing a continuous increase in product variety, steady growth in scale, and enhanced activity levels [4]. - There is a comprehensive strengthening of financial market regulations and supervision, with an orderly connection between Chinese and global financial markets, leading to a steady increase in foreign participation [4]. Group 4: Financial Openness and Internationalization - The PBOC is committed to building a higher-level open financial system, deepening high-level financial openness, and promoting the internationalization of the Renminbi [5]. - Efforts are being made to establish a multi-channel, widely covered, and self-controlled cross-border payment system [5]. - The PBOC aims to actively participate in global economic governance and cooperation, contributing to the formulation of international financial rules and standards [5].