PANews reported on August 15th that the People's Bank of China released its Monetary Policy Implementation Report for the second quarter of 2025. In the next phase, a moderately accommodative monetary policy will be implemented in detail. Based on the domestic and international economic and financial situation and the operation of financial markets, the intensity and pace of policy implementation will be carefully controlled. Liquidity will be maintained to ensure that the growth of social financing and money supply is aligned with the expected targets for economic growth and overall price levels, thereby continuously fostering a favorable financial environment. Promoting a reasonable rebound in prices will be a key consideration in implementing monetary policy, ensuring that prices remain at a reasonable level. Adhering to a managed floating exchange rate system based on market supply and demand and adjusted with reference to a basket of currencies, the market will play a decisive role in exchange rate formation. The resilience of the foreign exchange market will be enhanced, market expectations will be stabilized, pro-cyclical market behavior will be resolutely corrected, and actions that disrupt market order will be dealt with. The risk of exchange rate overshooting will be resolutely guarded against, and the RMB exchange rate will be kept basically stable at a reasonable and balanced level.

In the next stage, we will balance the relationship between the short-term and the long-term, stabilizing growth and preventing risks, internal equilibrium and external equilibrium, supporting the real economy and maintaining the health of the banking system itself, improve the foresight, pertinence and effectiveness of macro-control, maintain policy continuity and stability, enhance flexibility and foresight, strengthen the consistency of macro-policy orientation, focus on stabilizing employment, stabilizing enterprises, stabilizing the market, and stabilizing expectations, strive to complete the annual economic and social development goals and tasks, and achieve a successful conclusion of the "14th Five-Year Plan".