The central bank: In the next stage, it is recommended to strengthen monetary policy regulation and improve forward-looking, targeted and effective

The Monetary Policy Committee of the People's Bank of China held a regular meeting in the third quarter of 2025. The meeting studied the main ideas of monetary policy in the next stage, and suggested strengthening monetary policy regulation and control, improving forward-looking, targeted and effective. According to the economic and financial situation at home and abroad and the operation of financial marekt, grasp the intensity and rhythm of policy implementation, grasp the implementation of various monetary policy measures, and fully release the policy effect. Maintain sufficient liquidity, guide the Financial Institution Group to increase the money and credit supply, so that the scale of social financing and the growth of money supply match the expected targets of economic growth and overall price level. Strengthen the guidance of the central bank's policy interest rate, improve the transmission mechanism of market-oriented interest rate formation, give play to the self-discipline mechanism of market interest rate pricing, and strengthen the implementation and supervision of interest rate policy. Promote the Observe and evaluate the operation of the bond market from a macroprudential perspective, and pay attention to changes in long-term yields. Unblock the transmission mechanism of monetary policy, improve the efficiency of capital use, and prevent idling of funds. Strengthen the resilience of the foreign exchange market, stabilize market expectations, prevent the risk of exchange rate overshoot, and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level. (Jin Ten)