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Yi Gang, governor of the People's Bank of China, said Tuesday that China's economic growth is still in a reasonable range and prices are relatively moderate. Problems encountered in the process of transformation and upgrading are mainly through supply-side structural reform. China's monetary policy should remain firm, adhere to a steady orientation and firmly refrain from "flooding".
At his first press conference celebrating the 70th anniversary of the founding of New China, he said that M2 (broad money supply) and social financing should be roughly matched, while leverage should be maintained at a sustainable level, and that in the long run, efforts would be made to reduce the financing costs of enterprises through reform.
Press releases provided by the Central Bank before the meeting said that at present China's monetary policy tools are adequate, interest rates are moderate and policy space is large; especially since 2018, the battle against risk has achieved positive results, the risks of key areas and some key institutions such as shadow banks have been resolved steadily, and financial risks have converged as a whole. Overall controllability, positive changes in market expectations.
At the same time, Ning Jizhao, deputy director of the National Development and Reform Commission, who attended the conference, also said that positive and effective measures must be taken to increase the "six stability". First, efforts should be made to expand effective investment and promote this year's intrabudgetary investment. Some new special debt quotas for next year should be issued ahead of schedule. More measures should be taken to stimulate the vitality of private investment and accelerate project construction. Pace.
In addition, we should promote the upgrading of key consumer goods and break down the consumption restrictions of automobiles.
At the same time, Liu Kun, Minister of Finance, also attended the conference. He said that tax reduction and fee reduction are the top priority of this year's active fiscal policy. From the implementation of this year, the amount of tax reduction is slightly more than originally expected.


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