Pan Gongsheng, Governor of the People's Bank of China: Implement a Moderately Loose Monetary Policy

Pan Gongsheng, Governor of the People's Bank of China, presided over a symposium on financial support for the real economy and delivered a speech. The meeting emphasized the need to implement a moderately loose monetary policy to meet the effective financing needs of the real economy and maintain reasonable growth in the total amount of finance. It called for increased support for key areas such as technological innovation, boosting consumption, private small and micro enterprises, and stabilizing foreign trade. The meeting also stressed the importance of making full use of existing and new policies to improve the quality and efficiency of financial support for the real economy, supporting economic structural adjustment, transformation and upgrading, and the conversion of new and old growth drivers. It highlighted the need to strengthen the implementation and transmission of monetary policy, maintain fair market competition, and promote the organic unity of financial services for the real economy and the sustainable development of banks themselves. The meeting also called for the orderly promotion of the international use of the renminbi and the improvement of trade and investment facilitation levels. It emphasized the need to coordinate development and security and resolutely safeguard national financial security.