Supporting Consumption Boost and Expanding Effective Investment

Regarding the impact of the Federal Reserve's interest rate cut, Pan Gongsheng stated that global financial markets had fully anticipated this move, leading to a relatively stable market reaction. The US dollar index largely hovered around the 97 mark, international capital markets generally trended upward, while commodity markets experienced volatile declines. China's major financial markets, including stocks, bonds, and foreign exchange, also maintained stable operation.

Pan Gongsheng emphasized that China's monetary policy adheres to a domestically focused approach while balancing internal and external equilibrium. The current stance of China's monetary policy is supportive, implementing appropriately accommodative measures. This policy orientation has created a favorable monetary and financial environment for the sustained recovery and improvement of China's economy, as well as the stable operation of financial markets.

"Looking ahead, we will comprehensively utilize various monetary policy tools based on macroeconomic conditions and changing circumstances to ensure ample liquidity, promote a reduction in overall social financing costs, support the boosting of consumption and expansion of effective investment, consolidate and enhance the positive trend of economic recovery, maintain the stable operation of financial markets, and keep the RMB exchange rate basically stable at an adaptive and equilibrium level," Pan Gongsheng said.

Pan Gongsheng noted that building a financial powerhouse requires long-term and persistent efforts. The People's Bank of China will continue to implement the central authorities' decisions and deployments, plan the development of the financial sector during the "15th Five-Year Plan" period with high standards, and contribute more financial strength to advancing Chinese modernization.