At 10:30 on March 10, the press conference of the Second Session of the 13th National People's Congress held a press conference. Yi Gang, Governor of the People's Bank of China, Chen Yulu, Vice President, Vice President and Director of the State Administration of Foreign Exchange, Pan Gongsheng, deputy President Fan Yifei answered questions from Chinese and foreign journalists on issues related to "financial reform and development."

 

At the press conference, the central bank governor Yi Gang answered questions on social issues such as monetary policy, February social welfare data, RRR cuts, RMB exchange rate, and bond defaults:

 

Monetary policy

Yi Gang said that a prudent monetary policy is a very rich content orientation. Steady and not neutral is more concise, but the connotation of a stable monetary policy has not changed. Mainly reflected in the counter-cyclical adjustment of monetary policy, while maintaining a moderately moderate amount, that is, M2 and social growth rate are generally consistent with the nominal GDP growth rate. It is necessary to optimize the structure and further strengthen the financing support for private enterprises.

 

Yi Gang stressed that it is necessary to take the money and credit data for a long time. You can't look at a number at a time, but you should pay attention to the weighted average. You need to look at the moving average data in a time series, so that you can judge the sound more comprehensively. The connotation of monetary policy.