The People's Bank of China will create a new structural monetary policy tool

On April 28, Zou Lan, deputy governor of the People's Bank of China, said at a press conference held by the State Council Information Office on April 28 that the People's Bank of China will make good use of a moderately loose monetary policy. According to the domestic and foreign economic situation and the operation of financial marekt, it will cut RRR and interest rates in a timely manner, maintain abundant liquidity, create new structural monetary policy tools, focus on key areas of stabilizing employment and growth, and provide financial support. The People's Bank of China is studying and enriching the policy toolbox, and will introduce incremental policies in a timely manner to help stabilize employment, enterprises, markets, and expectations, and effectively consolidate the fundamentals of economic development and social stability.