Pan Gongsheng: Since the beginning of this year, monetary credit has shown the characteristics of an increase in quantity, decrease in prices, and optimization of structure.

On May 7th, Pan Gongsheng, Governor of the People's Bank of China, stated at a press conference hosted by the State Council Information Office that since the beginning of this year, the People's Bank of China has implemented moderately loose policies, reinforced counter-cyclical adjustments, comprehensively applied various monetary policy tools, and served the high-quality development of the real economy. These efforts have been made to promote sustained economic recovery and create a favorable monetary environment for accumulation. In terms of effectiveness, this year has seen an increase in quantity, a decrease in prices, and optimization in structure of monetary credit.