Continue to increase credit support for small and micro enterprises, technological innovation and green development

On January 18, the State Council Information Office held a press conference on financial statistics in 2021
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At the meeting, Liu Guoqiang, deputy governor of the People's Bank of China, introduced that in 2022, the People's Bank of China will implement the spirit of the Central Economic Work Conference, adhere to the principle of stability, seek progress while maintaining stability, maintain a flexible and appropriate monetary policy, and increase cross-cycle adjustment.
Give full play to the dual functions of the total amount and structure of monetary policy tools, be more proactive and enterprising, focus on the front, and guide financial institutions to increase support for the real economy, especially small and micro enterprises, technological innovation, and green development , stabilize the macroeconomic market, and create a suitable monetary and financial environment for promoting high-quality economic development
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Specifically, the People's Bank of China will focus on the following aspects:

The first is to maintain a stable growth in the total amount of money and credit
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Comprehensively use a variety of monetary policy tools to maintain reasonable and sufficient liquidity, enhance the stability of the growth of total credit, guide financial institutions to vigorously expand credit supply, and maintain the growth rate of money supply and social financing scale to basically match the nominal economic growth rate
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The second is to maintain the steady optimization of the credit structure
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Structural monetary policy tools should be actively "added", implement market-oriented policy tools to support small and micro enterprises, make good use of carbon emission reduction support tools and support special re-lending for clean and efficient use of coal, and guide financial institutions to increase credit growth.
Regional credit issuance and optimization of the structure
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Targeted efforts were made to increase credit support for key areas and weak links
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The third is to keep the comprehensive financing cost of enterprises stable with some decline
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Improve the market-oriented interest rate formation and transmission mechanism, give full play to the efficiency of the reform of the interest rate quoted in the loan market, stabilize the cost of bank liabilities, promote the stability of the comprehensive financing cost of enterprises, and promote the financial system to transfer profits to the real economy
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Fourth, keep the RMB exchange rate basically stable at a reasonable and balanced level
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Let the market supply and demand play a decisive role in the formation of the exchange rate, and play the role of the exchange rate to adjust the macro economy and the automatic stabilizer of the balance of payments
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There are many factors affecting the exchange rate.
Uncertain exchange rates are inevitable, and two-way fluctuations are the norm.
Enterprises and financial institutions should establish the concept of "risk neutrality", and financial institutions should actively provide exchange rate risk management services for small and medium-sized enterprises to reduce the risk of Exchange rate hedging costs
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Maintaining the basic stability of the RMB exchange rate at a reasonable and equilibrium level is the goal.
The exchange rate may deviate from the equilibrium level in the short term, but in the medium and long term, market factors and policy factors will correct the exchange rate deviation
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