The Governor of the People's Bank of China, Pan Gongsheng, presided over a symposium with economic and financial experts to build a scientifically sound and prudent monetary policy framework and to effectively implement a moderately loose monetary policy.

Securities Times reporter He Jueyuan

On March 12, Pan Gongsheng, governor of the People’s Bank of China, presided over an economic and financial experts symposium. He held discussions with experts and scholars to analyze and study the current economic and financial situation, and to address related topics such as using monetary and financial policies to support the real economy, improving and refining the monetary policy framework reform, and ensuring stable development of financial markets, among others, while listening to experts’ suggestions and recommendations. Pan Gongsheng said that in the next stage, the central bank will build a scientific and prudent monetary policy system.

At the meeting, experts including Li Yang, Wu Xiaoqiu, Zhang Xiaohui, Peng Wensheng, Guan Tao, Xu Qiyuan, Xing Qizhiqiang, Lu Zhe and others delivered remarks respectively. All participants agreed that the major goals and tasks for economic and social development in 2025 will be completed smoothly, and that the monetary policy’s support for the real economy has achieved notable results. This year marks the start of the “Fifteenth Five-Year Plan” period. Faced with complex domestic and external conditions, macroeconomic policies are becoming more proactive and effective, and since the beginning of the year, economic operations have continued to show a favorable trend. The experts also offered suggestions on how to implement a moderately accommodative monetary policy effectively, reform and improve the monetary policy framework, and maintain stable operation of financial markets.

Pan Gongsheng said that since this year began, on the basis of existing policy measures continuing to play a role, the central bank has also issued a number of adjustments involving structural monetary policy tools. The moderately accommodative monetary policy has achieved good results, strongly boosting market confidence and stabilizing social expectations. In the next stage, the central bank will fully implement the spirit of the Fourth Plenary Session of the 20th CPC Central Committee, the Central Economic Work Conference, and the deployment requirements in the Government Work Report, build a scientific and prudent monetary policy system, continue to implement a moderately accommodative monetary policy, strengthen counter-cyclical and cross-cyclical adjustments, and create a suitable monetary and financial environment for the economy to continue improving toward greater quality and strength.

(Editor: Wen Jing)

Key words:

                                                            Monetary policy