Metropolitan Monetary Policy Committee Adjustment member: Xu Hongcai joined Yu Weiping withdrawn

On June 22, the General Office of the State Council publicly informed that the People's Bank of China "Revolution for the Appointment and Removal Monetary Policy Committee" has been received. With the consent of the State Council, the personnel notice of the components of the Monetary Policy Committee is now notified as follows: Agree with Xu Hongcai as a member of the Monetary Policy Committee, Yu Weiping no longer serves as a member of the Monetary Policy Committee.

According to the first quarter of 2022 of the People's Bank of China Monetary Policy Committee, the Monetary Policy Committee was organized as: the President of the People's Bank of China Yi Gang served as the chairman of the Monetary Policy Committee, Yu Weiping, Chen Yulu, Kangyi, Guo Shuqing, Yi Hui Man, Pan Gongsheng, Tian Guoli, Tian Guoli , Liu Shijin, Cai Yan, Wang Yiming, Ding Xuedong, Lian Weiliang, Liu Guoqiang and other 14 members of the Monetary Policy Committee.

The personnel adjusted, Yu Weiping no longer served as a member of the Monetary Policy Committee, and a member of the new monetary policy committee was Xu Hongcai. The reporter noticed that Xu Hongcai was a member of the party group and deputy minister of the Ministry of Finance in March 2019.

Xu Hongcai is the deputy minister of the Ministry of Finance

Public information shows that Xu Hongcai, male, Han nationality, born in September 1963, Xinghua, Jiangsu, joined the Communist Party of China in August 1996, joined the work in August 1984, graduated from the Financial and Financial Department of Jiangxi University of Finance and Economics. In March 2019, he served as a member of the party group and deputy minister of the Ministry of Finance.

From 1991 to 2003, Xu Hongcai served as Deputy Director of the Comprehensive Division of the Local Budget Management Department of the Ministry of Finance, deputy director of the Comprehensive Division of the Local Department, Director of the Office, Second Division of the Budget Department, and Director of the Institutional Management Division (during: 1995 From November to January 1997, the deputy head of the Anci District of Langfang City, Hebei Province). From 2003 to 2010, he served as the deputy director of the Budget Department of the Ministry of Finance, from 2010 to August 2014 as the Director of the Budget Department of the Ministry of Finance. Member, Deputy Minister.

In addition, according to official information, Yu Weiping served as deputy director, director of the Higher Education Department, and Cadre appointment and removal of the Cadres of the Higher Education Department from 1994 to 2001. Director of the Division, from 2005 to April 2012, served as the Director of the Ministry of Personnel Education of the Ministry of Finance, from April 2012 to July 2015 as a member of the party group and assistant minister of the Ministry of Finance. In July 2015, he served as a member and deputy minister of the party group of the Ministry of Finance.

The Central Bank Monetary Policy Committee is a consulting agency for the People's Bank of China to formulate monetary policy. The Central Bank Monetary Policy Committee was established in July 1997. Article 12 of the newly revised "People's Bank of China" on December 27, 2003 clearly states that the People's Bank of China establishes a monetary policy committee. The responsibilities, composition and working procedures of the Monetary Policy Committee shall be reported to the State Council of the State Council for the record of the Standing Committee of the National People's Congress. The People's Bank of China Monetary Policy Committee shall play an important role in national macro -control and monetary policy formulation and adjustment.

According to the "Regulations on the Monetary Policy Committee of the People's Bank of China" issued by the State Council on April 5, 1997, the responsibilities of the Monetary Policy Committee are based on the comprehensive analysis of the macroeconomic situation, in accordance with the national macro -control goals, discuss the formulation and adjustment of monetary policy 2. Monetary policy control goals, the use of monetary policy tools, important measures related to monetary policy, coordination of monetary policy and other macroeconomic policies involving monetary policies, and other major matters, and make suggestions.

Example of the first quarter: increase the implementation of stable monetary policy

The latest regular meeting of the central bank's monetary policy is the first quarter meeting held in March 2022. The meeting analyzed the economic and financial situation at home and abroad.

The meeting pointed out that economic development is facing three pressures of demand shrinkage, impact of supply, and expected weakness. It is necessary to stabilize the characters in the head, seek progress steadily, strengthen the adjustment of cross -cycles and reverse cycles, increase the implementation of stable monetary policies, enhance forward -looking, accuracy, autonomy, and exert the dual functions of monetary policy tools. Take the initiative to boost confidence, provide more powerful support for the real economy, and stabilize the macroeconomic market. Further unblock the monetary policy transmission mechanism, maintain reasonable liquidity, enhance the stability of the total credit growth, maintain the basis of the growth rate of monetary supply and the growth rate of social financing, and keep the macro leverage.

Xu Hongcai, a new member of the Central Bank Monetary Policy Committee, is a member and deputy minister of the party group of the Ministry of Finance. At the press conference of the Propaganda Department of the Central Committee of the Communist Party of China on May 17, Xu Hongcai said that since the beginning of this year, the Ministry of Finance has conscientiously implemented the spirit of the Central Economic Work Conference, deployed arrangements in accordance with the government work report, adheres to the stability of the word, searched for steady progress, focused on steady stability Key links such as employment, investment, stabilization of market entities, and stable industrial chain supply chain, multi -point efforts, comprehensive policies, policy force properly, help to stabilize the macroeconomic market.

He also said that the implementation of a new tax reduction policy, increased the burden reduction efforts, enhanced the vitality of the market entity, maintained appropriate expenditure intensity, further optimized the structure of fiscal expenditure, implemented the government's "tight life" requirements, strengthened the key fields of key areas With the guarantee of basic people's livelihood, reasonably arrange special bonds for local governments, ensure the construction of key projects, increase the central government's efforts to transfer and pay local transfer, promote the sinking of financial resources, and support the "three guarantees" work at the grassroots level. At present, various policies are accelerating, and policy utility continues to be released.

Xu Hongcai also stated at the above press conference that in the next step, the Ministry of Finance will continue to implement the Party Central Committee and the State Council on tax refunds and decision -making and deployment. Fiscal policies will be advanced.The macroeconomic market contributes to promote economic operation in a reasonable range.Daily Economic News

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