The Central Bank'S Three Quarter Monetary Policy Report Has Been Released Steadily In The Current Quarter.

< p > < strong > three quarter monetary policy generalizations < /strong > < /p >

< p > the general keynote of steady progress is to continue to implement the sound policy of < a href= "//www.sjfzxm.com/news/index_cj.asp" > currency < /a >. We should not relax nor tighten our monetary policy. We should strive to enhance the pertinence and coordination of policies, and timely adjust the fine-tuning appropriately.

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< p > continue to push forward the marketization of interest rate. Since July 20th, the lending rate control of financial institutions has been completely liberalized.

After that, it has pushed forward the establishment of self regulatory mechanism for interest rate pricing in financial institutions, the centralized pricing and issuing mechanism of basic interest rates for loans.

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< p > continue to improve the RMB exchange rate formation mechanism in accordance with the principle of initiative, controllability and gradualism.

Expand the use of RMB in cross-border trade and investment.

We will continue to steadily push forward the reform of financial enterprises.

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< p > the general keynote of steady progress is to continue to implement a prudent monetary policy. We should not relax nor tighten our monetary policy. We should focus on enhancing the pertinence and coordination of policies and timely and appropriately adjust the fine-tuning.

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< p > according to the change of the liquidity situation, we should flexibly adjust the direction and intensity of the liquidity operation. Through the tools such as reverse repurchase, standing a href= "//www.sjfzxm.com/news/index_cj.asp" > Loan > /a > convenience, we can effectively cope with the short term fund fluctuation caused by various factors, and combine the two operations of freezing long-term liquidity and providing short-term liquidity, and continue to do some 3 year central bank tickets.

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< p > implement the spirit of the State Council's financial support for the development of the real economy, appropriately adjust the relevant parameters of the dynamic adjustment mechanism of differential reserve, strengthen the coordination of credit policies and industrial policies, further expand the pilot projects of securitization of credit assets, promote the development of direct debt financing of non-financial enterprises, encourage and guide financial institutions to deploy more credit resources to key areas and weak links such as "agriculture, rural areas and farmers, small and micro enterprises".

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< p > < strong > the next stage of the main policy thinking < /strong > < /p >

< p > will continue to implement a prudent monetary policy, adhere to the stability and continuity of policies, timely and appropriate pre fine-tuning.

The key point is to create a stable monetary and financial environment, and promote market participants to form reasonable and stable expectations, and promote structural adjustment and pformation and upgrading.

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< p > 1. We should comprehensively use the combination of policy instruments such as quantity and price, < a href= "//www.sjfzxm.com/news/index_cj.asp" > currency < /a >, improve the macro Prudential policy framework, strengthen the adjustment function of the total liquidity gate, and guide the steady growth of monetary credit and social financing regulation.

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< p > two, revitalize the stock and optimize the increments to support economic restructuring and pformation and upgrading.

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< p > three, further promote the marketization of interest rates and the reform of the RMB exchange rate formation mechanism, improve the efficiency of the financial system allocation, and improve the financial regulation mechanism.

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< p > four, continue to promote the standardized development of financial market, increase the support of direct financing, and expand the financing channels for small and micro enterprises.

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< p > five, deepen the reform of financial institutions.

We will continue to deepen the reform of large commercial banks, promote continuous improvement of corporate governance, gradually improve the modern financial enterprise system, accelerate the pformation of development mode and profit model, and enhance the ability of innovation and development and international competitiveness.

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< p > six, effectively preventing systemic financial risks, and earnestly maintaining the stability of the financial system.

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< p > < strong > the risks and challenges facing the current economic operation < /strong > < /p >

< p > the new strong growth momentum has yet to be formed, and the economy may experience a process of reducing leverage and capacity in a longer period. Real estate and local government debt problems are more prominent, and resources and environment constraints have also increased significantly. The task of structural adjustment and pformation of development mode is very arduous.

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< p > the basis for stable operation of consumer prices is not very stable. Prices are more sensitive to changes in aggregate demand. We should continue to guide and stabilize inflation expectations.

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