An increase of 200 billion yuan in loans and rediscounts for supporting agriculture and small businesses; The seven day reverse repurchase rate, standing lending facility (SLF) rate, medium-term lending facility (MLF) rate and other central bank policy interest rates have declined, and the loan market quoted rate (LPR) has dropped for the first time this year... Recently, both total and structural tools in the monetary policy toolbox have come into play, providing stronger support for the real economy. Looking ahead to the second half of the year, in order to further promote the sustained recovery of the economy and boost the confidence of business entities, monetary policy operations will be further intensified. Since the second quarter, China's economic operation has maintained a recovery trend. However, multiple data also indicate that the foundation of economic recovery is not solid, market demand is still insufficient, and endogenous momentum needs to be strengthened. From financial data, the new RMB loans and new social financing in April and May showed a slowing trend. Against this backdrop, the Executive Meeting of the State Council held on June 16th studied a series of policy measures to promote the sustained recovery of the economy. In order to promote the sustained recovery and improvement of the economy, the "window period" of monetary policy has recently opened, and a series of policy operations have come one after another. Last Friday, the People's Bank of China decided to increase the amount of loans and rediscounts for agriculture and small businesses by 200 billion yuan, further increasing financial support for agriculture, rural areas, small and micro enterprises, and private enterprises. In fact, both agricultural and small-scale re loans are long-term structural monetary policy tools that are issued to local legal person financial institutions. For loans that meet the requirements, funding support is provided at 100% of the loan principal. As of the end of the first quarter of 2023, the balance of re loans and rediscounts for supporting agriculture and small businesses in China reached a record high of 2.6 trillion yuan. In practice, many financial institutions have combined supporting agriculture, small businesses, and re lending with their own business characteristics, achieving precise drip irrigation of financial vitality. Fu'an Renda Tea Industry Co., Ltd. is a small and micro enterprise engaged in tea processing in Shekou Town, Fu'an City, Fujian Province. When the spring tea production season approaches in 2023, the enterprise urgently needs working capital for tea green purchase. However, due to the lack of effective collateral, many banks are unable to apply for loans, and Fu'an Rural Credit Union applies to the local People's Bank of China for re loan funds to support agriculture, Innovate the method of "agricultural support re loan+factory contract loan", successfully granting a credit of 500000 yuan to enterprises. This has solved the funding gap problem during our Spring Tea period, and the annual interest rate is only 5.5%, which has truly benefited us, "Zhong Shilian, the head of Renda Tea Industry, told reporters. Dong Ximiao, the Principal investigator of China Merchants Union Finance, said that the People's Bank of China would increase the amount of small refinancing and rediscount to support agriculture, on the one hand, it would provide more financial support for financial institutions, on the other hand, it would reduce the capital cost of financial institutions, thus encouraging financial institutions to better serve "agriculture, rural areas and farmers" and small and micro enterprises. In the context of a decrease in LPR and a narrowing of bank interest rate spreads, providing low-cost funding to banks helps them maintain basic stability in interest rate spreads, thereby continuing to drive financing costs down steadily. Greater efforts will be made to promote economic stability and recovery, while structural monetary policy is "precise oriented", the total amount policy is also not absent. Since mid June, including seven