People's Bank of China Enhances Monetary Policy's Forward-looking Flexibility and Targeting

The People's Bank of China stated that it will maintain a reasonable growth in the total amount of finance, implement a moderately loose monetary policy, and enhance the forward-looking nature, flexibility, and targeting of the policy. Based on domestic and international economic and financial conditions and market operations, it will comprehensively utilize and timely adjust monetary policy tools to ensure that the implementation of the policy is appropriate in terms of strength, pace, and timing, while maintaining ample liquidity. The growth of social financing scale and money supply will align with the expected targets for economic growth and overall price levels to create a suitable monetary and financial environment. At the same time, the People's Bank will closely monitor changes in the monetary policies of major overseas central banks and strengthen the analysis and monitoring of liquidity supply and demand in the banking system and changes in the money market.

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