Central Bank Governor Pan Gongsheng: The central bank will continue to adhere to a supportive monetary policy stance and strengthen counter-cyclical and cross-cyclical adjustment

On June 19, Pan Gongsheng, Governor of the People's Bank of China, said at the Lujiazui Forum today that the central bank will continue to adhere to a supportive monetary policy stance, strengthen counter-cyclical and cross-cyclical adjustment, support the consolidation and strengthening of the economic recovery trend, and create a good monetary and financial environment for economic and social development. In regulating and controlling, the central bank will focus on grasping and handling three aspects of the relationship: First, the relationship between short-term and long-term. Take maintaining price stability and promoting a moderate price recovery as an important consideration, and use policy tools such as interest rates and deposit reserve ratios flexibly. At the same time, maintain policy determination and do not amplify income. Second, the relationship between stabilizing growth and preventing risks. We should take into account the relationship between supporting the growth of the real economy and maintaining the health of the Financial Institutions Group, and insist on preventing and defusing financial risks in promoting high-quality economic development. The third is the relationship between internal and external. Mainly consider the need for regulation of the domestic economic and financial situation, and take into account the spillover effects of the economic and monetary policy cycles of other economies.