People's Bank of China governor Pan Gongsheng
- Expected that depending on the market liquidity situation by the end of the year, the reserve requirement ratio could be further reduced
- to achieve dynamic balance, macroeconomic policy should shift from investment-focused to balancing both investment and consumption
- monetary policy framework will be further improved, with a focus on achieving a reasonable rise in prices as a key consideration
- depending on market liquidity, reserve requirement ratio could be further reduced by 0.25 to 0.5 percentage points before the end of the year
- the interest rate of 7-day reverse repo operation in the open market will be lowered by 0.2 percentage points
- interest rate of medium-term lending facilities could be reduced by 0.3 percentage points, depending on market liquidity
- loan market prime rate (LPR) could also be lowered by 0.2%
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