People's Bank of China: Flexibly and efficiently utilize various monetary policy tools such as reserve requirement ratio cuts and interest rate cuts.

Odaily Planet Daily reports that the Party Committee of the People's Bank of China held a meeting, emphasizing the continued implementation of a moderately loose monetary policy and accelerating supply-side structural reforms in the financial sector. The meeting stressed that promoting stable economic growth and a reasonable recovery in prices are key considerations for monetary policy. It called for the flexible and efficient use of various monetary policy tools, such as reserve requirement ratio cuts and interest rate cuts, while carefully managing the intensity, pace, and timing of policy implementation to maintain ample liquidity, promote low overall social financing costs, and strengthen financial support for the real economy. The meeting also emphasized smoothing the monetary policy transmission mechanism, optimizing the use of structural monetary policy tools, strengthening coordination with fiscal policy, and incentivizing and guiding financial institutions to increase support for key areas such as expanding domestic demand, technological innovation, and small and medium-sized enterprises (SMEs). Finally, the meeting stressed maintaining the basic stability of the RMB exchange rate at a reasonable and balanced level. (Jinshi)