The central bank has launched some incremental policy measures to further reduce the cost of corporate financing and residential credit loans

On September 13, the head of the relevant departments of the central bank interpreted the financial statistics in August: the recent growth rate of M2 balance is relatively stable. In August, the growth rate of social financing scale and RMB loan balance was more than 8%, which was about 4 percentage points higher than the nominal GDP growth rate in the first half of the year. In the context of accelerated structural transformation, financial data still maintained steady growth on a high base, and the support for the real economy was solid. In the next step, monetary policy will be more flexible, appropriate, accurate and effective. We will increase the intensity of regulation and control, accelerate the implementation of financial policies and measures that have been introduced, and start to introduce some incremental policy measures to further reduce the cost of corporate financing and residents' credit loans, and maintain reasonable and abundant liquidity. Maintaining price stability and promoting a moderate price recovery are important considerations for grasping monetary policy, and meeting reasonable consumer financing needs in a more targeted manner.