潘功胜最新发声！事关货币政策、金融市场运行

Core Viewpoint - The People's Bank of China (PBOC) aims to enhance financial services for high-quality economic development while implementing a moderately accommodative monetary policy to support stable growth and financial market stability by 2025 [1][2]. Monetary Policy Implementation - In 2025, the social financing scale is expected to grow by 8.3%, and the broad money supply is projected to increase by 8.5%, both significantly exceeding nominal GDP growth [2]. - The PBOC will continue to implement a moderately accommodative monetary policy, focusing on promoting stable economic growth and reasonable price recovery [2][3]. Structural Policy Measures - The PBOC plans to optimize the design and management of structural monetary policy tools, enhancing support for key strategic areas and weak links [3]. - Specific measures include lowering interest rates on various structural monetary policy tools by 0.25 percentage points and increasing the quotas for rural and small enterprise loans [3][10]. Financial Market Stability - The PBOC emphasizes maintaining the stability of the financial market, managing expectations, and ensuring the RMB exchange rate remains stable [4][5]. - The bond market is expected to develop healthily, with the 10-year government bond yield stabilizing around 1.8% to 1.9% [2]. Macro-Prudential Management - The PBOC aims to construct a comprehensive macro-prudential management system, focusing on the relationship between macroeconomic operations and financial risks [6][7]. - Key tasks include enhancing monitoring and assessment of systemic financial risks and expanding the coverage of macro-prudential management to new areas such as internet finance [6]. International Financial Cooperation - The PBOC is committed to advancing global financial governance reforms and international financial cooperation, promoting a fair and inclusive global financial governance system [7][8]. - Efforts include enhancing the cross-border payment system for RMB and participating in international macro policy coordination [8]. Support for Key Sectors - The PBOC will guide financial institutions to support domestic demand, technological innovation, and small and micro enterprises, with specific measures to enhance consumer finance and support for technology and small businesses [9][10]. - A dedicated 500 billion yuan service for consumption and elderly care loans will be established, alongside increased quotas for technology innovation loans [10][11].