央行：加强货币政策调控，保持流动性充裕

Core Viewpoint - The People's Bank of China (PBOC) is focusing on integrating incremental and stock policies to enhance monetary policy effectiveness, adjusting tools based on domestic and international economic conditions [1][2] Group 1: Monetary Policy Strategy - The PBOC aims to maintain ample liquidity, aligning the growth of social financing and money supply with economic growth and price level expectations [2] - There is an emphasis on strengthening the guidance of central bank policy rates and improving the transmission mechanism of market-based interest rates [2] - The PBOC will monitor and assess the bond market from a macro-prudential perspective, paying attention to changes in long-term yields [2] Group 2: Policy Implementation - The PBOC seeks to enhance the efficiency of fund utilization by improving the transmission mechanism of monetary policy [2] - There is a focus on increasing the resilience of the foreign exchange market, stabilizing market expectations, and preventing excessive fluctuations in the exchange rate [2] - The goal is to maintain the basic stability of the RMB exchange rate at a reasonable and balanced level [2]