On the 24th, the State Council Information Office held a press conference to introduce the relevant situation of financial support for high-quality economic development. Pan Gongsheng, President of the People's Bank of China, said at the meeting that since this year, the People's Bank of China has adhered to the fundamental purpose of financial services for the real economy, adhered to supportive monetary policy stance and policy orientation, and implemented three major monetary policy adjustments in February, May and July. In terms of the total amount of monetary policy, various monetary policy tools such as lowering the reserve requirement ratio, lowering policy interest rates, and guiding the downward trend of loan market quoted interest rates are comprehensively used to create a favorable monetary and financial environment. In terms of the structure of monetary policy, we focus on key links of high-quality development, establish re loans for technological innovation and technological transformation, and increase financial support for technological innovation and equipment upgrading. Reduce the down payment ratio and mortgage interest rate of mortgage loans, lower the interest rate of housing provident fund loans, and establish a guarantee housing refinancing system to accelerate the destocking of existing commercial housing through market-oriented means. In terms of the transmission of monetary policy, we will promote the reform of the quarterly value-added accounting method in the financial industry, which has changed from the previous calculation method mainly based on the growth rate of deposits and loans to the income based accounting method. We will rectify and standardize manual interest payments and idle funds, activate inefficient financial resources, improve the efficiency of fund utilization, and enhance the transmission efficiency of monetary policy. In terms of exchange rates, we must adhere to the decisive role of the market in the formation of exchange rates, maintain exchange rate elasticity, strengthen expectation guidance, and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level. The effectiveness of monetary policy continues to show, with social financing scale increasing by 8.1% year-on-year at the end of August, RMB loans increasing by 8.5% year-on-year, about 4 percentage points higher than nominal GDP growth rate, and financing costs also at a historical low. Pan Gongsheng stated that according to the central government's decision-making and deployment, in order to further support stable economic growth, the People's Bank of China will firmly adhere to a supportive monetary policy stance, increase the intensity of monetary policy regulation, improve the accuracy of monetary policy regulation, and create a favorable monetary and financial environment for stable economic growth and high-quality development. (New Society)