People's Bank of China: There is still further room for financial support for consumption, and we will study and introduce guiding documents on financial support for consumption.

In the next stage, the People's Bank of China will implement a moderately loose monetary policy, utilize structural monetary policy tools, increase the guidance strength of macro credit policies, and encourage financial institutions to actively meet the diverse funding needs of various entities. Firstly, implement a moderately loose monetary policy to create a favorable financial environment for expanding consumption. According to the central government's requirement to implement more proactive macro policies, adjust and optimize policy intensity and pace as needed. Utilize various policy tools such as reserve requirements, re-lending and re-discounting, and open market operations to maintain adequate liquidity. Explore the use of structural monetary policy tools to support low-cost funds in key consumption areas. Secondly, introduce a package of financial policies to promote consumption. Research and introduce guiding documents for financial support for consumption to guide financial institutions to enhance consumer financial services, focus on the supply side, strengthen high-quality supply in key service consumption areas such as tourism, accommodation and catering, cultural and entertainment, education and training, and residential services, and increase financial support for the construction of consumer infrastructure and commercial circulation systems. Thirdly, continuously optimize consumer credit products and services. Encourage financial institutions to optimize credit products and services around key scenarios, major strategies, and key populations under controlled risks, cost coverage, and regulated purposes, and provide support for consumer credit. Fourthly, enhance the funding supply capacity of consumer financial institutions. Support automotive finance companies and consumer finance companies in issuing financial bonds, study the appropriate increase of registration quotas for consumer credit asset securitization, promote the moderate expansion of the scope of securitizable assets in the consumer sector, and increase credit funding support. Fifthly, build an efficient and convenient payment ecosystem. Focus on consumer scenarios such as "food, accommodation, transportation, travel, shopping, entertainment, and medical," continuously promote the convenience of payment, and enhance the convenience of payment services for overseas visitors in China.