Pan Gongsheng, Li Yunze, and Wu Qing make a significant statement! It concerns the reduction of reserve requirements and interest rates, the stock and property markets, and reforms of public funds.

According to the Zhitong Finance APP, the State Council Information Office held a press conference this morning at 9:00, inviting the heads of the People's Bank of China, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission to introduce the situation regarding the "comprehensive financial policy to support market stability and stabilize expectations." Pan Gongsheng, the governor of the People's Bank of China, stated that the central bank will increase macro-control intensity and introduce a package of monetary policy measures, mainly consisting of three categories totaling ten measures. These include reducing the reserve requirement ratio by 0.5 percentage points, expected to provide the market with long-term liquidity of around 1 trillion yuan. The policy interest rate will be lowered by 0.1 percentage points, with the overnight repurchase agreement rate in the open market decreasing from the current 1.5% to 1.4%, expected to lead to a simultaneous decrease of about 0.1 percentage points in the loan prime rate (LPR) in the lending market.