谈降准降息、人民币汇率、物价水平……央行、外汇局发布会，信息量满满

Group 1: Monetary Policy and Currency Stability - The People's Bank of China (PBOC) expects the RMB exchange rate to continue to fluctuate in both directions, maintaining its elasticity due to various influencing factors such as economic growth and geopolitical risks [2] - The PBOC emphasizes that China does not intend to devalue its currency to gain competitive advantages in international trade, maintaining a clear and stable exchange rate policy [3] - Approximately 60% of import and export trade is minimally affected by exchange rate fluctuations, with about 30% of foreign trade conducted in RMB, which helps mitigate risks [9] Group 2: Foreign Exchange Market Outlook - The State Administration of Foreign Exchange (SAFE) anticipates a stable operation of China's foreign exchange market in 2026, with cross-border capital flows remaining orderly [4] - The trading volume in China's foreign exchange market has reached historical highs, indicating a resilient market capable of absorbing external changes [4] Group 3: Support for Enterprises - The PBOC will include medium-sized private enterprises in its re-lending support program, allocating a total of 1 trillion yuan for private enterprise re-lending [6] - The PBOC plans to expand the support for the health industry within the service consumption and elderly care re-lending framework once the industry standards are established [8] Group 4: Economic Indicators - The PBOC reports a 6.4% year-on-year growth in RMB loans by the end of 2025, with an adjusted growth rate of approximately 7% when excluding the impact of local government bond replacements [11] - By the end of 2025, the total assets of asset management products reached 119.9 trillion yuan, reflecting a 13.1% year-on-year increase [12]