Maintaining currency supply and social financing scale reasonably increased

Reporter Liu Qi

On August 10, the People's Bank of China issued a report on the implementation of China's monetary policy in the second quarter of 2022. The report pointed out that since the beginning of this year, the People's Bank of China has resolutely implemented the decision -making and deployment of the Party Central Committee and the State Council, stabilized the word, steadily seeking progress, and stable monetary policy flexibly and moderate, effectively implementing a package of policies for the stability of the economy, and resolutely supporting the stability of the economic market.

The report believes that the current global economic growth has slowed down, the inflation is high, geopolitical conflicts continue, and the external environment is more severe and complicated. The foundation of domestic economic recovery needs to be stable, and structural inflation pressure may increase. But in general, the long -term fundamentals of my country's economy have not changed, the economy has maintained strong toughness, the macro policy regulation tools are rich, and the economic development of high -quality economic development has many favorable conditions. thing.

In the report, the People's Bank of China pointed out that my country's economic operation is gradually recovering, the supply and demand relationship is basically stable, and the currency conditions are moderate. Under the favorable conditions of the stable and increasing food market and the smooth operation of the energy market, the price increase is expected to run in a reasonable range. The expected target with an average increase of about 3%is expected to achieve, and the PPI increase will continue to continue the downward trend during the year.

The report emphasizes that in the next stage, the People's Bank of China will adhere to the stability of the word and seek progress in stability, complete, accurately, and comprehensively implement the new development concept, accelerate the establishment of a new development pattern, deepen the supply -side structural reform, and build a modern central bank system. We will improve the framework of modern monetary policy, grasp the implementation of policy measures, focus on stabilizing employment and prices, play a key role in effective investment, and consolidate the trend of economic recovery.

Strengthen the implementation of stable monetary policy, give full play to the dual functions and structural dual functions of monetary policy tools, take the initiative to respond, boost confidence, do a good job of cross -cyclical adjustment, take into account short -term and long -term, economic growth and price stability, internal equilibrium and external balance , Persist in do not engage in "big water drilling", do not exceed currency, and provide more powerful and high -quality support for the real economy.

Maintain reasonable liquidity, increase credit support for enterprises, make good use of policy development financial instruments, focus on supporting the construction of infrastructure, maintain a reasonable increase in currency supply and social financing scale, and strive to achieve the best results of economic operation realization. Essence Pay close attention to changes in the inflation situation at home and abroad, continuously consolidate the favorable conditions for domestic food stable production and the stable operation of the energy market, and make proper responses to maintain the level of price. Structural monetary policy tools actively do a good job of "addition", increase support for inclusive small and micro loans, support small and medium -sized enterprises to stabilize employment, and use good use of coal clean and efficient utilization, technological innovation, inclusive pension, transportation and logistics special loans and re -loans and re -loans of transportation and logistics Carbon emission reduction support tools, promote financial resources to key areas, weak links, and industries that are seriously affected by the epidemic, and to cultivate new economic growth points.

We will improve the formation of market -oriented interest rates and conduction mechanisms, optimize the central bank's policy interest rate system, strengthen the supervision of deposit interest rates, give play to the important role of the market -oriented adjustment mechanism of deposit interest rates, focus on stabilizing the cost of bank liabilities, give play to the effectiveness and guidance of the loan market quotation interest rate reform, promote reducing enterprises to reduce enterprises Comprehensive financing costs. Pay close attention to the impact of the economic trend of major developed economies and the overflow of monetary policy adjustment, and take care of the balance of internal and external balance. Adhere to the market supply and demand, refer to a basket of currency to regulate and manage the floating exchange rate system, adhere to the bottom line of thinking, strengthen the macro -prudential management of cross -border funds flow, and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level.

Follow the principle of marketization and rule of law, coordinate economic development and risk prevention work, maintain the overall stability of the financial system, and resolutely adhere to the bottom line that does not occur without systemic financial risks. Focus on stabilizing the macroeconomic market, maintaining economic operations in a reasonable range, and striving to achieve the best results, and welcome the 20th National Congress of the Party with practical actions.

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