The People's Bank of China announced on the 4th that the 2023 People's Bank of China Working Conference will be held by video on the morning of the 4th. The meeting required that in 2023, the People's Bank of China system should fully implement the spirit of the 20th National Congress of the Communist Party of China and the Central Economic Work Conference, earnestly perform the duties of the Office of the Financial Commission of the State Council, build a modern central bank system, vigorously boost market confidence, highlight the work of stabilizing growth, employment and prices, promote the overall improvement of economic operation, achieve effective qualitative and quantitative improvement, and effectively prevent and resolve major financial risks, We will continue to deepen financial reform and opening up, and provide strong financial support for building a socialist modern country in an all-round way. We will maintain reasonable and sufficient liquidity, and implement a sound monetary policy accurately and effectively. We will comprehensively use a variety of monetary policy tools to maintain reasonable and sufficient liquidity. The growth of money supply in broad sense and the growth of social financing scale will be basically matched with the growth of economy in the same sense. Take multiple measures to reduce the financing cost of market entities. We will keep the RMB exchange rate basically stable at a reasonable and balanced level. At the fourth quarter regular meeting of the monetary policy committee of the People's Bank of China in 2022, it was proposed that we should adhere to the principle of "keeping the word stable and making progress while keeping it stable", strengthen cross cycle and counter cycle adjustment, and strengthen the implementation of prudent monetary policy. We should be precise and powerful, give full play to the dual functions of the total amount and structure of monetary policy tools, enhance confidence, overcome difficulties, focus on stabilizing growth, stabilizing employment, stabilizing prices, focusing on supporting the expansion of domestic demand, and focusing on providing more powerful support for the real economy. As for the orientation of monetary policy in 2023, Liu Guoqiang, Vice President of the People's Bank of China, said recently that it can be summarized as "sufficient aggregate and accurate structure". The total amount should be sufficient, that is, the monetary policy strength should not be less than 2022, and further efforts should be made if necessary. The correct structure is to continue to increase support for key areas and weak links such as inclusive microenterprises, scientific and technological innovation, green development and infrastructure. The meeting proposed to increase financial support for domestic demand and supply system. We will support the restoration and expansion of consumption, and the construction of key infrastructure and major projects. We will continue to treat all types of enterprises equally, and guide financial institutions to further solve the financing problem of private small and micro enterprises. We will implement 16 financial measures to support the steady and healthy development of the real estate market. At the same time, we continued to promote the prevention and resolution of financial risks. Further play the leading role of the Office of the Financial Commission of the State Council. We will improve the financial stability guarantee fund management system. With regard to the financial stability guarantee fund, the Financial Stability Law of the People's Republic of China (Draft) makes it clear that the state establishes the financial stability guarantee fund, which is managed by the overall coordination mechanism as a reserve fund for handling financial risks. Where financial risks seriously endanger financial stability, the financial stability guarantee fund may be used in accordance with regulations. We will continue to deepen the reform and opening up of the foreign exchange sector and financial reform. We will continue to improve the overall regulatory framework for financial infrastructure. Strengthen the regular supervision of financial business of platform enterprises. We will continue to deepen reform and opening up in the foreign exchange sector. The 2023 National Conference on Foreign Exchange Management held by the State Administration of Foreign Exchange on the 4th made it clear that the reform and opening up in the field of foreign exchange should be deepened. Steadily and orderly promote the high-level opening up of capital account and improve