Monetary Policy Committee of the People's Bank of China first quarter of 2011 regular meeting was held in Beijing recently.
The meeting analyzed the current domestic and international economic and financial situation. Conference believes that the current monetary and credit situation in China forward in the direction of macro regulation and control, but face economic and financial environment remains complex, the world economy continues to slow recovery, but recovery of the foundation is still not strong enough, China's economy maintained steady and rapid development, but development The problem remains acute.
Meeting stressed the need to pay close attention to the latest international and domestic economic and financial developments and their implications, emphasized the overall price level stable macro-control task, conscientiously implement the prudent monetary policy to improve the relevance of monetary policy, flexibility and effectiveness. To make comprehensive use of various monetary policy tools to gradually improve the macro-prudential policy framework for effective management of liquidity, maintain a reasonable scale of social finance and monetary aggregates. Focus on improving the credit structure to guide commercial banks to increase investment in key areas and weak links of the credit support, and strictly control the "two high" trade and industry overcapacity loans. To play the role of direct financing, to better meet the diverse investment and financing needs. Further improve the RMB exchange rate formation mechanism, to keep RMB exchange rate basically stable at an adaptive and equilibrium level.
The meeting by the President and the People's Bank of China monetary policy committee chaired Zhou Xiaochuan, Chairman of the Monetary Policy Committee member Li Yong, Hu Lian, Du Jinfu, Ma Jian Tong, Yi Gang, Liu, Shang Fulin, Wu, Jiang Jianqing, Zhou Qi Ren, Xia Bin, Li Daokui attend the meeting, Quan, Zhu Zhixin on official business leave. PBC Jinan Branch, Guangzhou Branch and Chongqing Business Management Department comrades attended the meeting.