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

The Party Committee of the People's Bank of China held a meeting. The third point of the meeting notes pointed out: Continue to implement moderately loose monetary policy and accelerate the structural reform of the financial supply side. Take promoting stable economic growth and reasonable price recovery as an important consideration of monetary policy, flexibly and efficiently use various monetary policy tools such as RRR and interest rate cuts, grasp the intensity, rhythm and timing of policy implementation, maintain abundant liquidity, promote the low operation of comprehensive social financing costs, and strengthen financial support for the real economy. Unblock the transmission mechanism of monetary policy, optimize the use of structural monetary policy tools, strengthen coordination with fiscal policy, and encourage and guide Financial Institution Groups to increase their efforts to support the expansion of domestic demand, technological innovation, small, medium and micro enterprises and other key areas. Maintain the basic stability of the RMB exchange rate at a reasonable and balanced level. The fifth point of the meeting notes pointed out: Steadily promote high-level financial opening up and safeguard China's national financial security. Practice global governance initiatives, actively participate in and promote the reform and improvement of global financial governance. Practically carry out financial diplomacy and multilateral and bilateral monetary and financial cooperation. Promote the internationalization of the RMB. Continue to build and develop a multi-channel and wide-ranging RMB cross-border transfer system. Steadily develop the digital RMB.