The Governor of the People's Bank of China, Pan Gongsheng, presided over a symposium with economic and financial experts to build a scientifically sound and prudent monetary policy framework and to effectively implement a moderately loose monetary policy.

Securities Times reporter He Jueyuan

On March 12, Pan Gongsheng, Governor of the People’s Bank of China, chaired an economic and financial experts symposium. He held discussions with experts and scholars, analyzed and researched the current economic and financial situation, and discussed related topics including how monetary and financial policy will support the real economy, how to reform and improve the monetary policy framework, and how to ensure stable development of financial markets, and he listened to experts’ opinions and suggestions. Pan Gongsheng said that in the next stage, the central bank will build a scientific and prudent monetary policy system.

At the meeting, experts including Li Yang, Wu Xiaoqiu, Zhang Xiaohui, Peng Wensheng, Guan Tao, Xu Qiyuan, Xing Ziqiang, Lu Zhe, and others delivered remarks respectively. Everyone consistently believed that the main targets and tasks for economic and social development in 2025 are completed smoothly, and that monetary policy support for the real economy has achieved noticeable results. This is the first year of the “Fifteenth Five-Year Plan” (15th five-year plan) and is also a year at the beginning of the “15th Five-Year Plan,” and in the face of complex domestic and external conditions, macroeconomic policies are more proactive and effective, with the economy continuing to show a favorable trend since the beginning of the year. The experts attending the meeting also offered suggestions on how to implement an appropriately loose monetary policy, reform and improve the monetary policy framework, and maintain stable operation of financial markets.

Pan Gongsheng said that since this year began, the central bank, on the basis of ensuring that existing policies and their subsequent measures have played a role, has also issued several adjustment items involving structural monetary policy tools. The appropriately loose monetary policy has achieved good results, strongly boosting market confidence and stabilizing social expectations. In the next stage, the central bank will fully implement and carry out the spirit of the Fourth Plenary Session of the 20th CPC Central Committee, the requirements of the Central Economic Work Conference, and the deployment requirements of the Government Work Report. It will build a scientific and prudent monetary policy system, continue to implement an appropriately loose monetary policy, and increase efforts in both counter-cyclical and cross-cyclical adjustments to create a suitable monetary and financial environment for the economy to keep moving toward improvement and excellence.

(Editor: Wen Jing)

Keywords:

                                                            Monetary policy