【金融街发布】中国人民银行：实施更加积极有为的宏观政策，防范化解重点领域风险

Core Viewpoint - The People's Bank of China (PBOC) released the "China Financial Stability Report (2025)", projecting a stable economic outlook for 2024 with a GDP growth of 5% and a focus on high-quality development amidst complex external challenges [1][2]. Group 1: Economic Projections - The GDP is expected to reach 134.9 trillion yuan, reflecting a 5% year-on-year growth [1] - Employment and prices are anticipated to remain stable, with international payments balanced and foreign trade reaching a historical high [1] - Foreign exchange reserves are projected to exceed 3.2 trillion USD [1] Group 2: Financial System Stability - The financial system will enhance support for the real economy, including two reductions in the reserve requirement ratio by a total of 1 percentage point and a 0.3 percentage point decrease in policy interest rates [2] - Policies will be implemented to mitigate debt risks for financing platforms, including a monitoring system for debt statistics [2] - The real estate market will receive support through lowered mortgage down payment ratios and interest rates, alongside the establishment of a housing rental financial policy framework [2] Group 3: Future Financial Strategies - The financial system will focus on maintaining liquidity and aligning social financing scale with economic growth and price expectations [3] - Emphasis will be placed on developing technology finance, green finance, inclusive finance, pension finance, and digital finance to support national strategies [3] - A comprehensive macro-prudential management system will be established to monitor and assess systemic financial risks [3]