【新华解读】锚定“促发展”与“防风险” 从中央经济工作会议看银行业下一步重点工作

Core Viewpoint - The Central Economic Work Conference held on December 10-11 outlines the direction for China's economic policy in 2026, emphasizing support for expanding domestic demand, technological innovation, and small and medium enterprises [1][2]. Monetary Policy - The conference advocates for a moderately loose monetary policy, with a focus on maintaining liquidity and using various policy tools such as reserve requirement ratio (RRR) cuts and interest rate reductions to stabilize economic growth and promote reasonable price recovery [2][3]. - Experts predict potential interest rate cuts of 0.2 to 0.3 percentage points and RRR cuts of up to 1 percentage point in 2026, with possible implementation in the first quarter of the year [2][3]. Financial Support for Key Areas - Financial institutions are encouraged to increase support for key areas such as domestic demand, technological innovation, green development, and small and medium enterprises [2][3]. - The central bank is expected to optimize structural monetary policy tools, increasing their overall quota while also lowering operational interest rates to facilitate high-quality development [3]. Real Estate Market Stability - The conference emphasizes stabilizing the real estate market through targeted policies, including controlling inventory and improving supply, while encouraging the acquisition of existing homes for affordable housing [5][6]. - The current loan quota for "white list" real estate projects has reached 7 trillion yuan, an increase of 2 trillion yuan from the previous year, indicating a focus on supporting quality real estate enterprises [6]. Support for Financial Institutions - The conference highlights the need for reform in small and medium financial institutions, transitioning from risk management to structural optimization, which reflects a proactive approach to enhancing quality and efficiency [7]. - Experts suggest that measures should be taken to prevent a decline in quality during the reduction of small financial institutions, emphasizing the importance of optimizing the financial institution system [7].