潘功胜：研究和储备应对宏观经济、金融市场波动等领域的政策工具，持续整治金融业“内卷式”竞争、资金空转

Core Viewpoint - The article emphasizes the need for a scientific and robust monetary policy system and a comprehensive macro-prudential management framework to enhance the effectiveness of monetary policy in China [1] Group 1: Monetary Policy Mechanisms - The central bank aims to strengthen the role of policy interest rates and narrow the width of the short-term interest rate corridor to improve the transmission of monetary policy to market interest rates [2] - There is a focus on optimizing the monetary policy intermediate variables and maintaining reasonable growth in financial aggregates, while shifting attention from quantity targets to more observational and reference indicators [3] Group 2: Financial Sector Competition and Coordination - The article highlights the need to address "involution" competition and capital churn in the financial sector, while enhancing the effectiveness of monetary policy transmission [4] - It calls for better coordination between monetary policy and fiscal, industrial policies in managing demand and structural adjustments [4] Group 3: Macro-Prudential Tools - The central bank is encouraged to enrich and refine the toolbox of macro-prudential policy instruments to address issues in key areas such as systemically important financial institutions and cross-border capital flows [5] - A standardized and regulated management mechanism for the creation, implementation, evaluation, feedback, and optimization of these tools is proposed [5] Group 4: Exchange Rate Management - The article stresses the importance of allowing the market to play a decisive role in the formation of the RMB exchange rate while maintaining its flexibility to support macroeconomic stability [6] - It emphasizes the need for bottom-line thinking and expectation management to prevent excessive fluctuations in the exchange rate [6] Group 5: Risk Prevention and Economic Stability - The need for comprehensive risk prevention measures in key sectors to avoid significant fluctuations that could impact high-quality economic and financial development is highlighted [7] - The article advocates for timely interventions to correct market "herding effects" and promote a positive cycle between the real economy and financial markets [7] - It also emphasizes the importance of maintaining stability in the real estate market and balancing risk prevention with innovation in internet finance [8]