Central Bank Shanghai headquarters: In the second half of the year, we will continue to prudently implement the prudent management of real estate finance
The People's Bank of China (PBOC) held a working meeting for the second half of 2022 at its Shanghai headquarters on Aug 4.
The meeting called for a sound monetary and financial environment to be created in the second half of 2022 to guide financial institutions to increase the supply of loans to the real economy, maintain steady credit growth, and push for a steady but moderate decline in real lending rates. We will increase credit support for key areas such as infrastructure, inclusive development, green development, scientific and technological innovation, and transportation and logistics. We will continue to promote the implementation and effectiveness of pilot policies for high-level opening-up of cross-border trade and investment in the new Lingang Area. We will deepen the construction of Shanghai as an international financial center and accelerate innovation in green finance. We will continue to promote the cross-border use of RMB, and support banks in carrying out RMB overseas loans and cross-border RMB settlement services in new forms of foreign trade. We will give play to the Shanghai coordination mechanism of the Office of the Financial Commission and strengthen cooperation in financial supervision. We will continue to prudently implement prudent management of real estate finance. Cooperate with the prevention and disposal of virtual currency trading speculation risk, promote P2P lending institutions inventory business. We will strengthen risk monitoring in the bond and money markets. We will strictly prevent bank account risks and intensify the crackdown on gambling and fraud. Strengthen supervision of payment institutions. We will explore the supervision and assessment of money laundering risks, and continue to push forward the three-year campaign to crack down on money laundering crimes. We will strengthen monitoring of cross-border capital flows and analysis of foreign exchange situations.