央行、外汇局，最新表态！事关降准降息、物价、人民币汇率等

Key Points - The article discusses the effectiveness of monetary and financial policies in supporting the high-quality development of the real economy in China [2] Group 1: Monetary Policy Measures - The People's Bank of China (PBOC) will lower the interest rates of various structural monetary policy tools by 0.25 percentage points, with the one-year re-lending rate decreasing from 1.5% to 1.25% [6] - The PBOC will merge the re-lending and re-discount for agriculture and small enterprises, increasing the re-lending quota by 500 billion yuan, with a separate quota of 1 trillion yuan for private enterprises [6] - The quota for re-lending for technological innovation and technological transformation will be increased from 800 billion yuan to 1.2 trillion yuan, expanding the support to high R&D investment private SMEs [6] - A combined risk-sharing tool for bonds of technological innovation and private enterprises will be established, providing a re-lending quota of 200 billion yuan [6] - The PBOC will lower the minimum down payment ratio for commercial property loans to 30% to support the real estate market [7] - Financial institutions will be encouraged to enhance their foreign exchange risk hedging services [7] Group 2: Economic Growth and Price Stability - The PBOC will continue to implement a moderately loose monetary policy to promote stable economic growth and reasonable price recovery [15] - There is still room for further reductions in the reserve requirement ratio (RRR) and interest rates, with the current average RRR at 6.3% [12] Group 3: Exchange Rate Policy - The PBOC has no intention of devaluing the currency to gain an international trade competitive advantage, emphasizing a stable and reasonable exchange rate [18] - The PBOC will continue to enhance the cross-border use of the renminbi and improve foreign exchange risk management tools for enterprises [18] Group 4: Support for Consumption and Private Enterprises - The PBOC will expand the support for service consumption and elderly care loans, including the health industry once recognized standards are established [21] - Measures will be taken to accelerate the implementation of re-lending for private enterprises, improving the financing environment for SMEs [24] Group 5: Financial Market Development - The PBOC aims to optimize the financial market structure, focusing on increasing the efficiency of financial resources directed towards key areas and weak links [26] - The State Administration of Foreign Exchange (SAFE) will enhance the facilitation of foreign exchange reforms and improve the management of cross-border capital flows [28] Group 6: Foreign Exchange Management - SAFE will promote the orderly issuance of Qualified Domestic Institutional Investor (QDII) investment quotas and enhance the openness of the financial market [40] - Efforts will be made to simplify foreign exchange registration procedures for foreign direct investment to facilitate foreign investment in China [41]