The People's Bank of China: Continue to implement a moderately easing monetary policy and promote the internationalization of the Renminbi

The Party Committee of the People's Bank of China held a meeting, and the third point of the meeting summary pointed out: Continue to implement a moderately easing monetary policy and accelerate the supply-side structural reform of the financial sector. Make promoting stable economic growth and reasonable price increases an important consideration of monetary policy, flexibly and efficiently use various monetary policy tools such as reserve requirement ratio cuts and interest rate reductions,
Grasp the strength, rhythm, and timing of policy implementation, maintain ample liquidity, promote low social overall financing costs, and strengthen financial support for the real economy.
Smooth the transmission mechanism of monetary policy, optimize the use of structural monetary policy tools, strengthen coordination with fiscal policy, and incentivize and guide financial institutions to support expanding domestic demand, technological innovation, small and micro enterprises, and other key areas. Keep the RMB exchange rate basically stable at a reasonable and balanced level. The fifth point of the meeting summary indicated: Steadily advance high-level financial opening and safeguard China's financial security. Practice global governance initiatives, actively participate in and promote reforms and improvements in global financial governance. Pragmatically carry out financial diplomacy and multi- and bilateral monetary and financial cooperation. Promote the internationalization of the Renminbi. Continue to build and develop a multi-channel, wide-coverage cross-border Renminbi payment system. Steadily develop digital Renminbi.