This morning, Zou Lan, deputy governor of the central bank, said at the Hong Kong International Finance Leaders Investment Summit that the People's Bank of China will adapt to the changing trend of the economic and financial structure and promote the gradual transformation and optimization of the monetary policy framework. The first is to continue to promote the transformation of the monetary policy framework based on supportive monetary policy positions, give more play to the role of interest rate regulation, improve market-based interest rates, form regulation and transmission mechanisms, further optimize the short-term interest rate regulation mechanism, improve the accuracy of interest rate regulation, and promote the reform of loan interest rate pricing benchmarks, from a relatively single reference loan market quoted interest rate pricing to more diverse pricing benchmarks. The second is to follow the trend of increasing proportion of direct financing, further build a modern financial market, build a multi-category and multi-level financial market system, actively develop the bond market and equity market, better meet the diverse financing needs of various business entities at different stages of development, improve the bond market technology board, cultivate and expand patient capital, and enhance the strength and level of financial ability to support scientific and technological innovation. Continue to deepen market-based reforms, give better play to the role of price discovery and resource allocation in the financial market, and create favorable conditions for the transformation of the monetary policy framework. The third is to deepen the high-level opening of the financial market to the outside world, raise the level of RMB internationalization, optimize the layout of RMB clearing banks, play a good role in currency exchange arrangements, provide stable and multi-level RMB liquidity support to the offshore market, optimize interconnection mechanisms such as bond links and swaps, enrich the global supply of high-quality RMB assets, facilitate global investors to invest and allocate RMB assets, and share the benefits and rewards brought about by China's economic development achievements. (Financial Services Association)

This morning, Zou Lan, deputy governor of the central bank, said at the Hong Kong International Finance Leaders Investment Summit that the People's Bank of China will adapt to the changing trend of the economic and financial structure and promote the gradual transformation and optimization of the monetary policy framework. The first is to continue to promote the transformation of the monetary policy framework based on supportive monetary policy positions, give more play to the role of interest rate regulation, improve market-based interest rates, form regulation and transmission mechanisms, further optimize the short-term interest rate regulation mechanism, improve the accuracy of interest rate regulation, and promote the reform of loan interest rate pricing benchmarks, from a relatively single reference loan market quoted interest rate pricing to more diverse pricing benchmarks. The second is to follow the trend of increasing proportion of direct financing, further build a modern financial market, build a multi-category and multi-level financial market system, actively develop the bond market and equity market, better meet the diverse financing needs of various business entities at different stages of development, improve the bond market technology board, cultivate and expand patient capital, and enhance the strength and level of financial ability to support scientific and technological innovation. Continue to deepen market-based reforms, give better play to the role of price discovery and resource allocation in the financial market, and create favorable conditions for the transformation of the monetary policy framework. The third is to deepen the high-level opening of the financial market to the outside world, raise the level of RMB internationalization, optimize the layout of RMB clearing banks, play a good role in currency exchange arrangements, provide stable and multi-level RMB liquidity support to the offshore market, optimize interconnection mechanisms such as bond links and swaps, enrich the global supply of high-quality RMB assets, facilitate global investors to invest and allocate RMB assets, and share the benefits and rewards brought about by China's economic development achievements. (Financial Services Association)