稳市场稳预期发布会点评：金融助力稳经济

Monetary Policy Adjustments - The central bank has implemented a 0.5% reduction in the reserve requirement ratio, expected to provide approximately 1 trillion yuan in long-term liquidity to the market[2] - A policy interest rate cut of 0.1% has been enacted, lowering the 7-day reverse repurchase rate from 1.50% to 1.40%, which is anticipated to lead to a similar decrease in the Loan Prime Rate (LPR) by about 0.1%[2] - The interest rate for structural monetary policy tools has been reduced by 0.25%, including various special structural tools and the re-lending rate for agriculture and small enterprises, from 1.75% to 1.50%[2] Support for Consumption and Innovation - The reserve requirement ratio for auto finance and leasing companies will be temporarily lowered from 5% to 0%, aimed at boosting auto consumption[2] - A new 500 billion yuan "service consumption and pension re-lending" facility has been established to enhance credit support for service consumption and reduce housing loan burdens[2] - The government plans to increase the re-lending quota for technological innovation and transformation by 300 billion yuan, raising the total to 800 billion yuan[2] Capital Market Stability - A combined total of 800 billion yuan will be allocated for securities fund and insurance company swap facilities and stock repurchase loans[2] - The risk factor for insurance company stock investments has been lowered to 10%, promoting stability and activity in the capital market[2] - The government is expediting the release of revised regulations for major asset restructuring of listed companies to enhance capital market merger and acquisition channels[2] Economic Outlook and Risks - The GDP growth rate for Q1 was reported at 5.4%, indicating a need for monetary policy easing to address economic weaknesses[2] - Upcoming trade talks with the U.S. are expected to strengthen China's negotiating position, coinciding with a favorable window for monetary policy easing due to anticipated U.S. interest rate cuts[2] - Risks include potential global inflation resurgence, rapid economic downturns in Europe and the U.S., and increasing international geopolitical complexities[2]