Pan Gongsheng, Governor of the People's Bank of China, talks about the primary significance of a moderately loose monetary policy.

Pan Gongsheng, Governor of the People's Bank of China, said at the press conference organized by the State Council Information Office on the 7th that there are several aspects to the moderately loose monetary policy. Firstly, there is ample liquidity and the conditions for social financing are loose, with the scale of social financing reaching 10.913 trillion yuan, broad money supply at 104.2039 trillion yuan, and the overall financing cost of society relatively low. Secondly, policy implementation needs to be adjusted according to changing circumstances, by comprehensively evaluating the domestic and international economic and financial situation and the operation of the financial market, and using various monetary policy tools to make adjustments. Finally, the orientation of monetary policy is supportive, and the overall scale of monetary policy is relatively loose.