“以我为主”兼顾内外均衡，美联储降息不改中国货币政策节奏

Core Insights - The financial industry in China has achieved significant milestones during the "14th Five-Year Plan" period, with the banking sector's total assets reaching nearly 470 trillion yuan, ranking first globally [3][4] - China maintains the world's largest foreign exchange reserves for 20 consecutive years and ranks second in stock and bond market sizes [3][4] - The People's Bank of China (PBOC) emphasizes a supportive monetary policy stance, focusing on balancing internal and external factors while enhancing financial support for the real economy [5][6] Financial Achievements - As of June 2025, China's banking assets are approximately 470 trillion yuan, leading globally [3] - The stock and bond markets are the second largest in the world, showcasing robust financial market development [3] - China is at the forefront of green finance, inclusive finance, and digital finance, with a well-established cross-border payment network [3][4] Monetary Policy - The PBOC's monetary policy is characterized by a focus on domestic priorities while considering global economic conditions [5][6] - The current loan market interest rates (LPR) remain stable, with the one-year LPR at 3% and the five-year LPR at 3.5% [5] - The PBOC aims to ensure liquidity and support economic recovery through various monetary policy tools [6] Risk Management - The PBOC highlights the importance of preventing and mitigating financial risks, particularly in local government financing and real estate sectors [7][8] - There has been a significant reduction in the number of financing platforms and overall financial debt levels, indicating improved risk management [7] - The PBOC is committed to maintaining financial stability and preventing systemic financial risks through macro-prudential measures [8]