PBOC Deputy Governor Zou Lan: The current slowdown in credit growth alongside quality improvement has become a new normal in macroeconomic operations, and the adaptability of the credit reporting system needs to be improved.

The 17th Caixin Summit was held in Beijing from November 11 to 13. Zou Lan, Deputy Governor of the People's Bank of China, said at the meeting that China has built the world's largest banking system and a world-leading inclusive financial system, with loan scale approaching 300 trillion and more than 800 million people with credit records. The current slowdown in credit growth and improvement in quality has become a new normal for macroeconomic operation. The focus of financial development is shifting from incremental expansion to stock optimization, and from scale orientation to targeted support. Technological innovation, green transition, and private small and micro enterprises are key areas and weak links in current financial services. Corresponding credit services such as credit evaluation, credit reporting mechanisms, and risk control models are not yet sound, and the adaptability of the credit reporting system needs to be improved.