Governor of the Central Bank Pan Gongsheng: Continue to implement a moderately loose monetary policy, increase countercyclical and cross-cycle regulatory efforts.

On March 12th, the Governor of the People's Bank of China, Pan Gongsheng, presided over an economic and financial expert symposium, held discussions with experts and scholars, analyzed the current economic and financial situation, and discussed topics related to supporting the real economy with monetary and financial policies, improving the monetary policy framework, and ensuring the stable development of financial markets, and listened to expert opinions and suggestions. Experts such as Li Yang, Wu Xiaqiu, Zhang Xiaohui, Peng Wensheng, Guan Tao, Xu Qiyuan, Xing Ziqiang, and Lu Zhe respectively made speeches. They unanimously agreed that the main goals and tasks of economic and social development for 2025 have been successfully achieved, and the monetary policy to support the real economy has achieved significant results. This year is the beginning of the "14th Five-Year Plan". In the face of complex internal and external situations, macro policies are more proactive and effective, and the economy has continued to show positive trends since the beginning of the year. The experts also provided suggestions on how to implement moderately loose monetary policies, reform and improve the monetary policy framework, and maintain stable operation of the financial markets. Pan Gongsheng stated that many constructive opinions and suggestions have been put forward. Since the beginning of this year, the People's Bank of China has resolutely implemented the decisions and deployments of the Party Central Committee and the State Council. On the basis of the continued effectiveness of existing policies, the People's Bank of China has also made some adjustments to structural monetary policy tools. The moderately loose monetary policy has achieved good results, effectively boosting market confidence and stabilizing social expectations. In the next stage, the People's Bank of China will fully implement the spirit of the Fourth Plenary Session of the 20th Central Committee of the Party, the Central Economic Work Conference, and the deployment requirements of the Government Work Report. It will build a scientifically sound monetary policy system, continue to implement moderately loose monetary policies, and increase counter-cyclical and cross-cyclical adjustment efforts to create a suitable monetary and financial environment for the economy to continue to improve and develop. Relevant departments of the People's Bank of China and the State Administration of Foreign Exchange, as well as officials from their affiliated units, attended the symposium. This article was selected and translated from the official website of the People's Bank of China; translated by GMTEight, edited by Chen Xiaoyi.