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Yi Gang, governor of the people's Bank of China, said that China's economic growth is still in a reasonable range, and inflation remains relatively moderate as a whole. Even if the monetary policy of the world's major economies approaches to zero interest rate, China will not engage in competitive zero interest rate or quantitative easing policies, and will always adhere to the implementation of sound monetary policy and maintain the stability of the currency value.
According to his article published in Qiushi magazine, we should take the initiative, adhere to the supply side structural reform as the main line, improve the financial macro-control mechanism, pay attention to the important role of active fiscal policies in optimizing the structure, reducing taxes and fees, form a triangular framework of mutual support among the supply system, demand system and financial system, and maintain a good momentum of stable and healthy economic development 。
The paper points out that monetary policy needs to pay attention to economic growth and not over stimulate economic growth; adhere to the fundamental goal of currency stability, while the central bank also needs to strengthen the goal of financial stability, and better combine maintaining currency stability and financial stability; monetary policy cannot fight alone, needs to cooperate with other policies, and "several lift" to form a joint force.
At present, China's efforts to implement sound monetary policy include:
First, the total amount is moderate. In the process of economic development from high-speed growth to high-quality development, we should grasp the orientation and strength of the total amount policy. In the next stage, we will continue to implement a sound monetary policy, keep the monetary conditions in line with the requirements of potential output and price stability, implement counter cyclical adjustment, maintain a reasonable and sufficient liquidity and moderate tightness, and continue to create a suitable monetary environment.
Second, precision drip irrigation, guiding and optimizing liquidity and credit structure, and supporting key areas and weak links of the economy. In the next stage, we should continue to make good use of structural monetary policy tools, create and improve policy tools as needed, dredge the transmission of monetary policy, make up for weaknesses, strengths and weaknesses, and support economic restructuring and optimization.

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