On March 3, the Information Office of the State Council of the People’s Republic of China held a series of themed press conferences on the theme of "The Beginning of the Words of Authoritative Departments", at which Governor of People's Bank of China YI Gang said that the People's Bank of China will promote the promulgation of the Financial Stability Law, supervising all kinds of financial activities in accordance with the law, and protect the interests of the broadest masses of the people, small and medium-sized investors and insureds.

YI Gang introduced that the People's Bank of China will provide strong financial support for the steady and healthy development of the economy.

Firstly, accurately and effectively implement a prudent monetary policy to create a suitable monetary and financial environment for high-quality economic development. The People's Bank of China will comprehensively use a variety of monetary policy tools to maintain reasonable and abundant liquidity, and the growth rate of broad monetary and social financing scale basically matches the growth rate of nominal economy. Maintain the basic stability of the RMB exchange rate at a reasonable and balanced level.

Secondly, improve the ability and quality of financial services to the real economy, and better support key areas and weak links. The People's Bank of China will continue increasing support for scientific and technological innovation, manufacturing, green and energy supply. Further enhance inclusive financial services such as small and micro enterprises, rural revitalization, and employment.

Thirdly, to strengthen the financial stability guarantee system and guard the bottom line of not occurring systemic financial risks. The People's Bank of China will consolidate the responsibilities of all parties to prevent and deal with financial risks. The People's Bank of China will promote the promulgation of the Financial Stability Law, supervising all kinds of financial activities in accordance with the law, and protect the interests of the broadest masses of the people, small and medium-sized investors and insureds. Do a good job in rectifying the financial business of platform enterprises, strengthen normalized supervision, and support the healthy and standardized development of platform enterprises.

Fourthly,to deepen financial reform and expand the high-level opening up of the financial industry in an orderly manner. The People's Bank of China will further create a first-class business environment that is market-oriented, rule-of-law and internationalized, and steadily expand the opening up of rules, regulations, management and standards in the financial sector. Adhere to multilateralism and actively participate in global financial cooperation and governance.

(Source: PeopleNet)