Macro Daily: the central bank emphasizes stabilizing credit and steady growth

1. Macro important news and events:

The central rural work conference was held in Beijing from 25th to 26th. Xi Jinping make important instructions for doing a good job in the work of "agriculture, rural areas and farmers". The meeting stressed that we should make every effort to do a good job in grain production and important Shenzhen Agricultural Products Group Co.Ltd(000061) supply, stabilize grain area, vigorously expand soybean and oil production, and ensure that grain output will be stable at more than 1.3 trillion kg in 2022.

Li Keqiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Premier of the State Council: in recent years, in the face of the huge impact of the complex and severe China's external environment, especially the epidemic situation, we have innovated and implemented macro-control and did not engage in "flood" strong stimulation, but implemented macro policies and promoted reform and opening up around the "green mountain" of retaining the market subject, so as to continuously stimulate market vitality and social creativity.

The monetary policy committee of the people's Bank of China held its regular meeting in the fourth quarter of 2021. The meeting pointed out that the current global epidemic is still evolving, the external environment is becoming more complex, severe and uncertain, and China's economic development is facing triple pressures of shrinking demand, supply shock and weakening expectations. We should make progress while maintaining stability, strengthen cross cyclical regulation, combine it with counter cyclical regulation, make an overall plan for the convergence of macro policies this year and next, and support high-quality economic development. A prudent monetary policy should be flexible and appropriate, be more forward-looking, accurate and independent, give full play to the dual functions of the aggregate and structure of monetary policy tools, be more proactive and promising, increase support for the real economy, maintain reasonable and sufficient liquidity, and enhance the stability of the growth of total credit, Keep the growth rate of money supply and social financing scale basically match the economic growth; Safeguard the legitimate rights and interests of housing consumers, better meet the reasonable housing needs of home buyers, and promote the healthy development and virtuous cycle of the real estate market.

Wang Menghui, Minister of housing and urban rural development: the real estate industry has a large scale, long chain and wide coverage, which has an important systematic impact on economic and financial stability and risk prevention. We will resolutely implement the deployment of the central economic work conference, firmly adhere to the positioning of "houses are for living, not for speculation", do not use real estate as a tool and means to stimulate the economy in the short term, strengthen the expected guidance, and implement policies for the city to promote the virtuous cycle and healthy development of the real estate industry.

During the second Christmas holiday under the epidemic, the Omicron variant raged, and thousands of flights around the world were cancelled.

 

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