1. The central bank interpreted China's main financial data in the first quarter and said that in the next step, it will timely use monetary policy tools such as RRR reduction to further strengthen financial support for the real economy, especially industries seriously affected by the epidemic, small, medium-sized and micro enterprises and individual industrial and commercial households, make reasonable profits to the real economy and reduce comprehensive financing costs. It is expected that credit supply will continue to maintain a steady growth trend in the future to support economic recovery. At present, the market's expectation of reducing the reserve requirement and interest rate rises rapidly, and believes that the reduction of the reserve requirement on the 15th is a high probability event. Nomura China expects the central bank to reduce the reserve requirement by 50 basis points, increase the bank's loanable funds by about 1.2 trillion yuan, and cut the interest rate by 10 basis points.
2. Vice Premier sun Chunlan investigated and guided the epidemic prevention and control work in Shanghai, emphasizing the need to adhere to the general policy of "dynamic zeroing" without hesitation and wavering, and achieve the goal of social zeroing as soon as possible. We should make every effort to ensure people's livelihood, optimize and improve the supply system, increase the transportation of main and non-staple food and living materials, open up the blocking points of logistics distribution, and effectively ensure supply and stable prices.
3. Liu Kun, Minister of finance, wrote that "stability" should be put in a prominent position in macro-control, increase the intensity of fiscal expenditure and countercyclical policies, firmly hold the bottom of the macro-economy, and make every effort to ensure that the economy operates within a reasonable range. We will accelerate fiscal capital expenditure, the issuance and use of special bonds and the issuance of the central infrastructure investment budget, refine and implement the tax rebate and tax reduction policy plan as soon as possible, and ensure that the policies conducive to activating and increasing power are introduced, implemented and effective as soon as possible.
