Pan Gongsheng, People's Bank of China: Currently, China's monetary policy stance is supportive, implementing a moderately loose monetary policy.

On September 22, when introducing the achievements of the development of the financial industry in the "14th Five-Year Plan" period, the Governor of the People's Bank of China, Pan Gongsheng, stated at a press conference of the State Council Information Office that a few days ago the Federal Reserve lowered interest rates, and the global financial market had fully anticipated this rate cut by the Federal Reserve. The market reaction was relatively stable, and the US dollar index has remained around 97 in recent days. The international capital market is generally bullish, and China's stock, bond, and foreign exchange markets remain stable. The People's Bank of China adheres to the principle of putting domestic concerns first while also considering external factors in monetary policy. At the same time, the current monetary policy stance has been communicated with the market multiple times prior, and it is currently supportive, implementing a moderately loose monetary policy. Looking ahead, depending on the macroeconomic situation and changes, a variety of monetary policy tools will be comprehensively used. Many central banks internationally follow this methodology, and we do as well.