2025,如何打赢金融稳定这场硬战? 自今年美国发出贸易战开始,The development of global financial markets is shrouded in dark clouds。The United States insists on going its own way and is aggressive,Let global financial markets be shocked every step of the way,Major markets fell significantly。As the U.S.-China trade war continues to heat up,The RMB has continued to fall sharply against the US dollar。China is facing increasing internal and external financial pressures。
1 financial stability,经济才稳 8月1日上午,The People's Bank of China holds a video conference on work in the second half of 2025。The meeting mainly summarized the work in the first half of the year,Analyze the current economic and financial situation at home and abroad,and researched and deployed key tasks for the second half of the year。 Meeting
Require
,Actively and prudently prevent and resolve financial risks in the second half of this year,Further expand financial openness,Steadily promote the internationalization of the RMB。 It was emphasized at the meeting,In the second half of this year, we must focus on the following tasks:。
——Implementing prudent monetary policy,Secure the money supply gate,Strengthen pre-tuning and fine-tuning,Maintain reasonable and sufficient liquidity。Encourage financial institutions to increase support for the real economy,Reduce financing costs for the real economy。 ——Actively and steadily prevent and resolve financial risks,Better combine preventing and resolving financial risks with serving the real economy。In accordance with the deployment and deployment of the three-year action plan to prevent and resolve major risks,
Require
,Pay close attention to the implementation。
——Continue to improve financial services for small and micro enterprises。Strengthen assessment incentives,Implement various policies and measures to deepen financial services for small and micro enterprises。Continue to deepen the three-year action of financial support to win the battle against poverty,Focus more on deeply impoverished areas,Increase efforts in financial poverty alleviation in deeply impoverished areas。 ——Further expand financial opening up,Steadily promote the internationalization of the RMB,Orderly realization of RMB capital account convertibility。
——Pay more attention to policy communication with the market,Create a good atmosphere for financial reform, development and stability。 ——Daxing survey and research style,Improve the scientific level of financial macro management。
2 风险压力与应对措施 由第一财经研究院、国家金融与发展实验室联合推出的 《中国金融风险和稳定报告2025》(下称“报告”)预测,2025years and future periods,China’s economy will likely face three risks and challenges:: first,If supply-side structural reform stalls,Monetary and regulatory policies are insufficiently focused during the deleveraging process,It may lead to and intensify a new round of asset price bubbles and accumulation of financial risks.。
Secondly,If the rhythm and intensity of breaking the rigid redemption during the deleveraging process are too radical,,May lead to excessive credit crunch、Contagion and spread of debt defaults,and trigger risk exposures in wider financial markets.,Lead to excessive risk of financial market fluctuations。
third,Global monetary policy shifts、Global trade disputes escalate,These external factors pass through trade、Global value chain (GVC) and financial channel transmission,Have a negative impact on China's macroeconomy and financial markets,Especially the impact it may have on confidence,Will intensify the mutual reinforcement of internal and external financial risks,poses major challenges to financial stability。 In the context of internal and external risks,Maintaining China's financial stability is particularly urgent now!
The central bank plans key tasks for the second half of the year,then releases an important signal,That means we must do a good job in financial work in a down-to-earth manner,Continuously improve financial market competitiveness、Risk resistance and sustainable development capabilities,Ensure the stable and healthy development of the economy through the stable operation of the financial market itself。
According to the specific methods and countermeasures given in the "Report",The short-term policy mix should be:Avoid sharp depreciation of the RMB in the short term,Avoid rising import prices,Reduce inflationary pressure,Keep real interest rates low to reduce debt servicing costs,Appropriately reduce the deposit reserve ratio to respond to possible tightening of global market liquidity;Recognize real non-performing assets as early as possible,and resolve existing credit risks in the banking system through a combination of fiscal capital injection and market capital injection.。
among them,To grasp a key point:To develop domestic financial markets and orderly private investment abroad,internally、Protect yourself from the outside world、Make good use of China’s savings。
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