PBOC MPC met Sept. 19 (Q3, 114th meeting) and directed large banks to serve as
the main providers of credit to the real economy, urged small banks to focus on
core businesses and called for stronger bank capital. The committee said
authorities will deploy and refine structural monetary-policy tools, intensify
targeted financial support for expanding domestic demand, technological
innovation, small and micro enterprises and construction of six major networks,
and continue support for private-sector growth. It also stressed maintaining
financial-market stability and advancing high-level two-way financial opening
while improving risk-management and macroprudential capacity under greater
openness.
