Central Economic Work Conference Advocates Monetary Policy Adjustments

According to Odaily, the Central Economic Work Conference was held in Beijing from December 11 to 12. The meeting emphasized the need for implementing a moderately loose monetary policy, including timely reductions in reserve requirements and interest rates, to maintain ample liquidity. This approach aims to align the growth of social financing and money supply with the anticipated targets for economic growth and overall price levels. Additionally, the conference highlighted the importance of exploring and expanding the macro-prudential and financial stability functions of the central bank. The conference also underscored the necessity of deploying a comprehensive policy mix. This involves enhancing the coordination and integration of fiscal, monetary, employment, industrial, regional, trade, environmental, regulatory, and reform and opening-up policies. A key focus is on improving the mechanisms for effective communication, consultation, and feedback among various departments. By doing so, the aim is to unify economic and non-economic policies under a consistent macro-policy orientation, thereby enhancing the overall effectiveness of policy implementation.