The 2012 first quarter regular meeting of the Monetary Policy Committee of the People's Bank of China held in Beijing recently.
The meeting analyzed the current domestic and international economic and financial situation. The Conference believes that the current overall in line with China's economic and financial macro-control expected steady economic growth, prices have come down; European debt crisis eased, the modest recovery of global economy, but uncertainties remain.
The meeting stressed that, should pay close attention to international and domestic economic and financial trends and its impact, continue to implement prudent monetary policy, to further enhance the policy relevance, flexibility and forward-looking, and the total is modest, prudent and flexible requirements, taking into account the promotion of stable economic and rapid economic development, to maintain price stability and financial risks. Integrated use of various monetary policy tools to guide the steady and moderate growth in money supply and credit to maintain a reasonable scale of financing. Efforts to guide and promote the credit structure optimization, and increase support to key areas of socio-economic and weaknesses. Guide financial institutions to improve the level of financial services to better support the development of the real economy. To continue to play the role of direct financing, to better meet the diversified investment and financing needs, and promote the regulation of financial markets development. Steadily promote market-oriented interest rate reform, and actively explore effective ways to promote market-oriented interest rate further. Further improve the RMB exchange rate formation mechanism, and enhance two-way floating RMB exchange rate flexibility to maintain the basic stability of RMB exchange rate at a reasonable and balanced level.
This meeting was presided over by Zhou Xiaochuan, chairman of the Monetary Policy Committee of the People's Bank of China, President and a member of the Monetary Policy Committee Quan, Li Yong, Ms. Hu, Yi Gang, Du Jinfu, Shang Fulin, Guo Xiang Junbo, Jiang Qian Yingyi Chen rain, Song Guoqing, attended the meeting, Zhu Zhixin, Ma Jiantang official leave of absence. Responsible comrades of the People's Bank of China, Shenyang Branch, Chengdu Branch and Xi'an Branch attended the meeting. (People's Bank of China)