The Third Session of the 14th National People's Congress held an economic theme press conference today (6th), and the heads of relevant departments answered questions from Chinese and foreign reporters on issues such as development and reform, fiscal budget, business, financial securities, etc.
People's Bank of China Governor Pan Gongsheng introduced that this year, based on the domestic and international economic and financial situation and the operation of the financial market, the reserve requirement ratio will be cut at the right time. Currently, the average deposit reserve ratio of financial institutions is 6.6%, and there is still room for downside. We can also study the reduction of interest rates of structural monetary policy tools. Further expand the scale of re-lending for scientific and technological innovation and technological transformation, and broaden the coverage of policy support.
