China’s Central Bank: There is still sufficient policy space to deal with unexpected challenges and changes

Liu Guoqiang, deputy governor of the People's Bank of China, said that in accordance with the Party Central Committee and the State Council's efforts to increase macro policy regulation, focus on expanding effective demand, and strengthen the deployment of policy measures reserves, the monetary policy will continue to be precise and powerful, and there will still be sufficient policy space to deal with unexpected challenges and changes. In terms of aggregate volume, the pace and intensity should be reasonably grasped according to changes in the situation, and counter-cyclical adjustments should be increased to create a favorable monetary and financial environment for the continued economic recovery. In terms of prices, the financing costs of the real economy have been steadily reduced, effectively supporting the expansion of demand potential. In terms of structure, focus on key points, reasonable and moderate, progress and retreat, financial support for key areas such as small and micro private enterprises, green innovation, etc. have been continuously increased, and the "financial 16" policy of real estate has been clearly postponed. The policy measures launched in the early stage are taking effect, and we must be patient and confident in the sustained and stable economic growth.