Pan Gongsheng: We will seize the opportunity to cut interest rates and reserve requirement ratios this year

The Governor of the People's Bank of China, Pan Gongsheng, stated at the economic theme press conference of the third session of the 14th National People's Congress that since last year, the counter-cyclical adjustment effect of monetary policy has been quite noticeable. The orientation of monetary policy is a description of status. This year, according to domestic and foreign economic and financial situations and financial market conditions, there will be opportunities to cut interest rates and reserve requirement ratios when appropriate. Currently, there is still room for downward adjustment in deposit reserve ratios.