未来五年怎么干？央行、金融监管总局、外汇局发声

Core Viewpoint - The People's Bank of China (PBOC) is enhancing its monetary policy framework and execution to support economic stability and high-quality development, as outlined in the recent meetings following the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China [1][2]. Group 1: Monetary Policy Framework - The PBOC has identified five key areas of focus: constructing a scientific and robust monetary policy system, improving macro-prudential management, deepening financial supply-side structural reforms, and advancing high-level financial openness [2]. - The PBOC emphasizes the need to balance short-term and long-term goals, support for the real economy, and the health of the financial sector while dynamically improving the monetary policy framework [2]. - The PBOC aims to maintain the stability of the RMB exchange rate at a reasonable and balanced level, while enhancing the effectiveness of monetary policy to support economic growth [2]. Group 2: Financial Regulation - The National Financial Regulatory Administration is committed to enhancing the foresight and effectiveness of financial regulation, focusing on preventing systemic financial risks and improving risk management mechanisms [4]. - The administration emphasizes the importance of strong regulatory responsibilities and the continuous reinforcement of the "five major regulations" to ensure financial stability [4]. Group 3: Foreign Exchange Management - The State Administration of Foreign Exchange (SAFE) has outlined key tasks including promoting the internationalization of the RMB, expanding high-level institutional openness in the foreign exchange sector, and maintaining the stability of the foreign exchange market [5][6]. - SAFE aims to enhance the management of cross-border capital flows and strengthen the monitoring and early warning systems for foreign exchange [6]. - The administration also focuses on supporting trade innovation and expanding bilateral investment cooperation while ensuring the safety and value retention of foreign exchange reserves [6].