央行四季度货币政策例会释放诸多积极信息

Group 1 - The core viewpoint of the recent central bank meeting is the commitment to maintain an accommodative monetary policy to support the ongoing economic recovery in China [1][2]. - The meeting emphasized the implementation of a moderately loose monetary policy, utilizing tools such as open market operations and reserve requirement ratio cuts to ensure ample liquidity in the banking system [1]. - The central bank aims to enhance counter-cyclical and cross-cyclical adjustments to align monetary credit growth with economic growth targets, indicating a supportive environment for economic rebound in the upcoming phases [1]. Group 2 - Structural policy tools will continue to be emphasized, with increased financial credit support directed towards key industries and sectors, including technology innovation, manufacturing upgrades, green development, inclusive finance, and pension finance [2]. - The meeting highlighted the importance of balancing interest rate policies with funding efficiency, aiming to improve the market-based interest rate formation mechanism and enhance the effectiveness of monetary policy transmission [2]. - There will be a focus on the synergy between monetary and fiscal policies, leveraging tools like fiscal interest subsidies and risk compensation to better support small and medium-sized enterprises and technological innovation [2].