On March 6th, Pan Gongsheng, President of the People's Bank of China, stated at an economic themed press conference held at the Second Session of the 14th National People's Congress that China's monetary policy toolbox is still abundant, there is still enough space for monetary policy, and there is still room for future reserve requirement reductions. In monetary policy regulation, the People's Bank of China will pay more attention to balancing the relationship between short-term and long-term, stable growth and risk prevention, internal balance and external balance, strengthen countercyclical and cross cyclical regulation, focus on boosting confidence, stabilizing expectations, stabilizing prices, and creating a good monetary and financial environment for economic operation and development. "The total amount of loans for technological innovation and technological transformation will maintain a reasonable growth," said Pan Gongsheng. Currently, the average reserve requirement ratio of the entire Chinese banking industry is 7%, and there is still room for further reserve requirement reduction. The People's Bank of China will comprehensively utilize various monetary policy tools, increase countercyclical adjustment efforts, maintain reasonable and sufficient liquidity, support stable growth and balanced allocation of social financing scale and total monetary credit, and achieve matching of social financing scale and broad money supply with expected economic growth and price levels. Pan Gongsheng stated that in terms of price, it will continue to promote a stable and moderate reduction in the cost of comprehensive social financing. The People's Bank of China will take maintaining price stability and promoting moderate price recovery as important considerations for monetary policy, taking into account the health of the banking industry's balance sheet, and continuing to promote a stable and moderate reduction in social comprehensive financing costs. In terms of structure, more emphasis should be placed on improving efficiency. Further enhance the effectiveness of monetary policy in promoting economic structural adjustment, transformation and upgrading, and the transformation of old and new driving forces. The People's Bank of China will establish re loans for technological innovation and technological transformation, continue to implement re loans to support carbon reduction, play a good role in stimulating and driving structural monetary policy tools, guide financial institutions to scientifically evaluate risks, constrain financing supply for industries with overcapacity, and more targeted meet reasonable consumer financing needs. Activate existing financial resources and focus on improving the efficiency of fund utilization. Further enhancing financial support and doing a good job in technology finance and other "five major articles" is an important focus of financial services for the high-quality development of the real economy, as well as an important content of deepening the structural reform of the financial supply side. Pan Gongsheng stated that in the next step, the People's Bank of China will strengthen collaboration with industry management departments such as technology and environmental protection, further enhancing financial support, sustainability, and professionalism. Pan Gongsheng stated that at the macro level, it is necessary to strengthen top-level design and system planning. At the policy level, strengthen guidance and incentives for financial institutions. Make good use of structural monetary policy tools, establish loans for technological innovation and technological transformation, and support the development of high-end manufacturing and digital economy. Continue to implement refinancing to support carbon reduction, further expand support areas, and increase scale. The People's Bank of China will also appropriately increase the scale of re loans for supporting agriculture and small businesses, continue to implement inclusive small and micro loan support tools, and expand the standard of inclusive small and micro loans covered by relevant incentive policies from a single household credit limit of no more than 10 million yuan to no more than 20 million yuan. At the implementation and promotion level, it is very important to enhance the service capabilities of financial institutions. Deeply carry out projects to enhance the financial service capabilities of technology, green, small and micro enterprises, etc., improve the internal incentive and constraint mechanisms of financial institutions, and enhance financial services