Central bank governor Yi Gang’s New Year speech

We are about to bid farewell to the unforgettable year 2020, ring the bell of farewell to the old and welcome the new, and usher in the first ray of dawn of 2021. At this moment, Beijing’s Chang’an Street is already in full swing. The building of the head office of the people’s Bank of China is still bright and busy. Many cadres and workers in the whole system work day and night as usual. Here, I would like to extend my best wishes for the new year to the cadres and workers of the whole system and your families, and my high respect to the comrades who still stick to their posts during the festival! I would like to express my heartfelt thanks to all walks of life who have been concerned about and supported the work of the people’s Bank of China for a long time!
2020 is not only arduous but also magnificent. Facing the novel coronavirus pneumonia that has been raging the world, we guided by Xi Jinping’s new socialist ideology with China’s characteristics, resolutely implement the decision making arrangements of the Party Central Committee and the State Council and the requirements of the financial committee of the State Council, always put the interests of the people in the first place, strengthen confidence and face difficulties and take the initiative to act as a macro regulator. We have made decisive achievements in the three major battles, contributing financial strength to the completion of the main goals and tasks of the 13th five year plan and the decisive victory in building a moderately prosperous society in an all-round way!
We attach great importance to the overall planning of epidemic prevention and control and economic and social development. The outbreak came suddenly, and the central bank acted upon the order. During the Spring Festival in 2020, cadres and workers of many business lines such as monetary credit, payment and settlement, cash delivery, Treasury allocation, foreign exchange management, etc. of the people’s Bank of China give up family reunion and rush to work regardless of their own safety. Some developed financial support measures to warm the hearts of the people; some regulated anti epidemic funds to make the guarantee more powerful; some opened green channels to make the service continuous. 30 financial support policies and measures, three times to reduce the deposit reserve ratio, 300 billion yuan of low-cost special refinancing, 500 billion yuan of work resumption refinancing and rediscount The whole system worked together to win the epidemic prevention and control war with the people of the whole country. The goal of monetary policy has been successfully achieved. China has become the only major economy in the world to achieve positive economic growth, which has been fully affirmed by the financial market and society. International organizations and the international community have also given high praise.
We are always concerned about the market players such as small and micro enterprises and individual businesses. Affected by the epidemic, the survival pressure of many small and micro enterprises has suddenly increased. They are the pillar of tens of millions of families, the source of market economy vitality, and an important guarantee for the national economy and people’s livelihood. We firmly adhere to the “two unswervingly”, give full support to stabilizing enterprises and ensuring employment, increase the 1 trillion yuan inclusive refinancing and rediscount line, innovate two monetary policy tools directly to the real economy, continue to release the dividend of loan market quoted rate (LPR) reform, take various measures to support banks to increase credit supply, and unswervingly promote financial institutions to make reasonable profits To reduce the financing cost of the real economy. At present, the bank has completed the deferred repayment of principal and interest of more than 60000 billion yuan of loans, issued more than 30000 billion yuan of inclusive small and micro credit loans, supported more than 30 million business entities, and achieved the goal of 1.5 trillion yuan of financial system transferring profits to the real economy.
We continue to deepen financial reform and opening up and resolutely win the three major battles. The whole system should seriously study the spirit of the Fifth Plenary Session of the 19th CPC Central Committee and the central economic work conference, continuously deepen financial reform, and promote high-quality opening up. We have conscientiously fulfilled the responsibilities of the office of the Finance Commission of the State Council, further strengthened the coordination of financial supervision, deepened the market-oriented reform of interest rates and exchange rates, continuously improved the macro Prudential management framework, made financial services more high-quality and efficient, continued to launch trade and investment facilitation measures, accelerated the implementation of announced financial opening-up measures, and highlighted international exchanges and cooperation. Under the guidance of financial reform and opening up, we are forging ahead on the road of winning three major battles. We should prevent and defuse major financial risks, weave a financial safety net, support targeted poverty alleviation, and strive for a well-off life. We should build a green financial system and practice “green waters and green mountains are golden mountains and silver mountains”.
At the same time, we are concerned about the physical and mental health of cadres and workers and the growth of young cadres. “Body is the capital of revolution”. During the anti epidemic war, we worried about the safety of the front-line anti epidemic comrades, and also paid close attention to the health of the cadres and workers of the whole system. We asked all branches and units at all levels to raise epidemic prevention materials from all sides, comprehensively implement policies, strictly guard against death, and protect everyone’s lives. It is gratifying to see that in the face of the big exam, the people’s Bank System youth remember the encouragement and expectation of general secretary Xi Jinping’s “not afraid of wind and rain and heavy burden”, so that youth can bloom gorgeous flowers in the most needed places of the party and people, and produce qualified answers.
No winter will not pass, no spring will not come!
2021 is the first year of the 14th five year plan, and we will embark on a new journey of building a modern socialist country in an all-round way. New starting point, new strength. We must closely unite around the Party Central Committee with Comrade Xi Jinping as the core, constantly enhance the “Four Consciousnesses”, strengthen the “four self-confidence”, make the “two maintenances”, thoroughly implement the spirit of the party’s the fifth Plenary Session of the 19th CPC Central Committee and the central economic work conference, take a new stage of development, implement the new development concept, promote the development of high quality as the theme, and deepen the financial supply side. To celebrate the centenary of the CPC Central Committee’s reform and development, to provide effective support for the construction of the party’s financial system!

One thought on “Central bank governor Yi Gang’s New Year speech

  • In the face of potential “black swans” and “gray rhinos” in the financial market, we have the determination, confidence and capability to win the battle against major risks.

Leave a Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

©Spark Global Limited Financial information & The content of the website comes from the Internet, and any infringement links will be deleted.