The People's Bank of China stated that it will continue to implement a moderately loose monetary policy and increase counter-cyclical and cross-cyclical adjustments.

PANews reported on March 31 that the Monetary Policy Committee of the People's Bank of China held its first quarterly meeting (the 112th overall) on March 26. The meeting concluded that current macroeconomic policies are more proactive, monetary policy remains moderately loose, social financing costs are at historically low levels, and the RMB exchange rate is basically stable at a reasonable and balanced level. The meeting proposed continuing to implement a moderately loose monetary policy, increasing counter-cyclical and cross-cyclical adjustments, maintaining ample liquidity, ensuring that the growth rates of social financing and money supply are aligned with economic and price targets, strengthening policy interest rate guidance, regulating credit market operations, reducing financing intermediary costs, and monitoring changes in long-term yields from a macro-prudential perspective. The meeting also emphasized making good use of structural monetary policy tools to support expanding domestic demand, technological innovation, and small and micro enterprises, and promoting high-level two-way opening up of the financial sector.