Pan Gongsheng: Keep the conditions for social financing relatively relaxed

On the afternoon of March 7, Pan Gongsheng, Governor of the People’s Bank of China, visited the Zhejiang Provincial Delegation’s residence and listened to opinions from the Zhejiang delegation’s group meeting. During the meeting, National People’s Congress deputies offered suggestions on issues such as clearing unreasonable intermediary fees for corporate and personal loans, shortening enterprises’ accounts receivable collection periods, and strengthening coordination between fiscal and financial efforts; Pan Gongsheng responded to each one in turn. Pan Gongsheng said that Zhejiang’s science-and-technology innovation enterprises have emerged and grown explosively, which has played a very important supporting role in the growth of China’s stock market in this round. When discussing monetary policy, he said that the central bank will implement a properly accommodative monetary policy and keep social financing conditions relatively loose. He added that current financing costs are at historically low levels, but from the People’s Bank’s perspective, it is still necessary to maintain a balance. (Securities Times)