gtfintechlab/peoples_bank_of_china · Datasets at Hugging Face

sentences stringlengths 34 1.04k	stance_label stringclasses 4 values	time_label stringclasses 2 values	certain_label stringclasses 2 values	year int64 2k 2.02k	__index_level_0__ int64 1 999
the participants analysed the current domestic and international economic and financial situations.	irrelevant	not forward looking	certain	2,013	549
moreover, measures will also be taken to further expand the high-level two-way opening-up of the financial sector, consolidate the capability of managing economic and financial situation and preventing risks in an open market, and enable stronger capacities to participate in the international financial governance.	dovish	forward looking	certain	2,019	476
the pboc has achieved remarkable results in the loan prime rate (lpr) reform, and given full play to the role of the mechanism for market-oriented adjustments of deposit rates.	dovish	not forward looking	certain	2,023	663
the meeting called for promoting structural adjustment,institutional reform and growth pattern while strengthening aggregates control soas to fully adopt the scientific approach to economic development; and speedingup construction of financial markets to improve the efficiency of monetarypolicy transmission.	dovish	forward looking	certain	2,004	820
it will pursue the strategy of expanding domestic demand while deepening supply-side structural reform, and leverage policy effectiveness while stimulating the vitality of business entities.	dovish	forward looking	certain	2,023	736
in doing so, the financial sector will work together to safeguard the steady development of the financial market.	neutral	forward looking	certain	2,024	867
appropriate measures should betaken to improve coordination among the macroeconomic policies, focusing on fosteringconcrete progress in the building of the socialist new countryside, expandingdomestic consumption demand, managing the growth of fixed asset investment atappropriate level and optimizing the investment structure.	dovish	forward looking	certain	2,006	32
the financing and credit structure will be improved and financial sector reform will be deepened to improve efficiency and build stronger capacity to serve the real economy.	dovish	forward looking	certain	2,014	990
the market-based interest rate reform will be furthered so that the market mechanism will play a fundamental role in resource allocation.	dovish	forward looking	certain	2,013	676
on september 25, the monetary policy committee of the people’s bank of china (pboc) held the third quarterly meeting of 2023 (its 102nd meeting) in beijing.	irrelevant	not forward looking	certain	2,023	234
the pbc will further bring into play the guiding role of central bank lending, central bank discounts, as well as the monetary policy tools that provide direct support for the real economy.	neutral	forward looking	certain	2,021	833
it was agreed thatthe chinese economy has maintained the rapid and sound growth momentum.	neutral	not forward looking	certain	2,005	892
in general,policy measures have achieved preliminary effects, as evidenced in the moderategrowth of money and credit and sound performance of the financial industry the committeeconducted an in-depth analysis of domestic and international economic andfinancial development.	dovish	not forward looking	certain	2,004	472
it will enhance the guiding role of government investment and policy incentives to enhance the multiplier effect and stimulate more private investment.	dovish	forward looking	certain	2,023	201
the committee held that, the package to cope with the international financial crisis would be implemented in a comprehensive manner, enriched and improved according to changes of the situation.	dovish	forward looking	certain	2,009	745
it will put efforts into implementing the action plan for stepping up support for the financing of sci-tech enterprises, and guide financial institutions to issue more medium and long-term (mlt) loans to the manufacturing sector based on market demands, so as to expedite the building of a modern industrial system.	dovish	forward looking	certain	2,024	678
the committee had in-depth review of the currenteconomic and financial development both at home and abroad and the policymeasures to be taken in the coming months.	neutral	not forward looking	certain	2,003	959
the pbc will properly manage the timing, intensity and effectiveness of monetary policy, so as to keep liquidity adequate at a reasonable level, keep the growth of money supply and aggregate financing to the real economy (afre) generally in line with nominal gdp growth, and maintain a basically stable macro leverage ratio.	neutral	forward looking	certain	2,021	710
the rmb exchange rate has remained stable, market expectations have improved, and the economy has become more resilient against external shocks.	neutral	not forward looking	certain	2,019	159
the monetarypolicy committee of the people’s bank of china (pbc) held its fourth quarterlymeeting of 2004 in beijing days ago.	irrelevant	not forward looking	certain	2,004	368
it was emphasized at the meeting that it was necessary to follow the latest developments in global economy and financial market and their impact, to continue the implementation of a prudent monetary policy, to give top priority to inflation control, to make macro-economic management more targeted, effective and forward-looking, and to manage the pace and strength of policies.	hawkish	forward looking	certain	2,011	185
while ensuring continuity and stability at aggregate level,preemptive and fine-tuning measures should be strengthened and the marketitself should be allowed to play its role in economic restructuring.	dovish	forward looking	certain	2,005	728
the pboc will accelerate building a diversified and seamless financial service system that covers the entire life cycle of sci-tech-based enterprises, which will facilitate building china into a great power in science and technology, and achieving sci-tech self-reliance and self-strengthening at higher levels.	dovish	forward looking	certain	2,024	735
efforts should be made tofully implement the scientific development approach by improving and carryingout each macroeconomic policy to prevent shifts from a relatively fast growthto an economic overheating and from structural price rise to full-scaleinflation, so as to realize good and rapid economic development.	hawkish	forward looking	certain	2,007	492
moreover, it will keep the rmb exchange rate basically stable at an adaptive and equilibrium level, and implement a mix of policy measures to rectify deviations and stabilize expectations.	neutral	forward looking	certain	2,024	505
remaining generally stable, the rmb exchange rate has become more flexible in two-way fluctuations and played its role as a stabilizer of the macro economy.	dovish	forward looking	certain	2,021	168
they agreed that, the impact of the covid-19 pandemic on the chinese economy is basically controllable, the economic growth remains resilient, and the long-term sound economic fundamentals stay unchanged.	neutral	forward looking	certain	2,020	38
meanwhile, efforts should be made to quicken the steps inthe development of direct financing and promote a coordinated development offinancial market.	dovish	forward looking	certain	2,006	101
in addition, the pbc will advance the high-level two-way opening-up of the financial markets, and improve the capacity for economic and financial oversight as well as risk management in an open economy.	dovish	forward looking	certain	2,022	233
it is their consensus view that the chinese economy has maintained sound growth momentum with strong resilience, and the switch to new growth drivers has gathered pace.	dovish	forward looking	certain	2,019	266
it will strengthen policy coordination across authorities to implement the package of policies to stabilize the economy and give full play to their roles in stabilizing the economy and providing reliefs for businesses.	dovish	forward looking	certain	2,022	470
it will put efforts into implementing the action plan for stepping up support for the financing of sci-tech enterprises, and guide financial institutions to issue more medium and long-term (mlt) loans to the manufacturing sector, so as to expedite the building of a modern industrial system.	dovish	forward looking	certain	2,023	688
monetary policy instruments should be adoptedto timely and moderately manage the financial system liquidity while avoiding majorfluctuation.	neutral	forward looking	certain	2,004	707
the monetarypolicy committee of the people’s bank of china (pbc) held its first quarterlymeeting of 2005 in beijing days ago.	irrelevant	not forward looking	certain	2,005	278
their view is that currently china’s major macroeconomic indicators are within a reasonable range, the economy has maintained a growth momentum with strong resilience, and new growth drivers are replacing the old ones.	neutral	not forward looking	certain	2,019	570
in general, the financial industry performed well in the first fivemonths of this year.	neutral	not forward looking	certain	2,003	670
in addition, the pboc will advance the high-level two-way opening-up of the financial sector, and enhance the capacity for economic and financial management as well as risk prevention and control in an open economy.	dovish	forward looking	certain	2,023	675
therefore, private enterprises will get financial support that matches their contribution to the economic and social development.	dovish	forward looking	certain	2,019	144
the pboc will make institutional arrangements for providing effective financial support for the real economy and improve the system for providing financial support for innovation.	dovish	forward looking	certain	2,023	918
moreover, it will deepen the market-oriented reform of exchange rates to enhance the flexibility of the rmb exchange rate, guide enterprises and financial institutions to remain risk neutral, strengthen expectation management, and promote the balance between internal and external equilibrium, so as to keep the rmb exchange rate basically stable at an adaptive and equilibrium level.	dovish	forward looking	certain	2,022	141
the monetary policy committee of the people's bank of china (pbc) held its fourth quarterly meeting of 2008 in beijing days ago.	irrelevant	not forward looking	certain	2,008	263
market supply and demand offoreign exchange should be allowed to play a greater role in the process ofincreasing rmb exchange rate flexibility, with a view to keeping the rmbexchange rate basically stable at an adaptive and equilibrium level.	dovish	forward looking	certain	2,007	128
days ago, the 3rd quarterly meeting of monetary policy committee was held in beijing.	irrelevant	not forward looking	certain	2,011	607
with financial risks under effective control, the financial sector has gradually improved its quality and efficiency in serving the real economy.	hawkish	not forward looking	certain	2,021	108
the committee conducted an in-depth analysis ofcurrent economic and financial situation both at home and abroad.	neutral	not forward looking	certain	2,005	105
however, the foundation for economic recovery was not solid, especially given the grave external environment due to the uncertain prospect of international economy and declining external demand.	dovish	not forward looking	uncertain	2,009	35
in this way, private enterprises will get financial support proportionate to their contribution to the economic and social development.	dovish	forward looking	certain	2,020	839
it was pointed out that close attention should be paid to developments of the world economic and financial situations in the second half of this year.	neutral	forward looking	uncertain	2,002	537
the monetarypolicy committee of the people’s bank of china (pbc) held its third quarterlymeeting of 2007 in beijing days ago.	irrelevant	not forward looking	certain	2,007	495
based on the requirements in deepening supply-side structural reform, efforts will be made to optimize financing and credit structures with an emphasis on adjusting and optimizing the structure of financial system, and to enable private enterprises to get financial support that matches their contributions to the economic and social development.	dovish	forward looking	certain	2,019	979
the pbc will work to maintain stability in job creation, preserve financial stability, support stable growth of trade, foreign direct investment, and domestic investment, and keep market expectations stable in accordance with decisions and arrangements by the cpc central committee and the state council.	neutral	forward looking	certain	2,018	271
the loan prime rate (lpr) reform has been continuously paying dividends, with transmission efficiency of monetary policy enhanced and lending rates falling significantly.	dovish	not forward looking	certain	2,020	8
with these efforts, the financial market is expected to become more vigorous and resilient, and a modern financial system that is highly adaptable, competitive, and inclusive will be developed.	dovish	forward looking	certain	2,021	737
efforts should be made to optimize credit structure, to bolster the financial support for weak links such as agriculture, farmers and the rural areas and small- and medium-sized enterprises, to address financing difficulties of certain enterprises, and to tighten up lending extended to the enterprises in highly energy-consuming, heavily polluting and overcapacity industries.	hawkish	forward looking	certain	2,009	523
the prudent and neutral monetary policy has brought about positive outcomes, as the macro leverage ratio has stabilized, the measures adopted to prevent and mitigate financial risks have produced results, and the financial sector has provided stronger support for the real economy.	dovish	not forward looking	certain	2,018	968
it is agreed at the meeting that the pbc will continue to closely monitor the marginal changes in the economic and financial situations both at home and abroad, strengthen the sense of crisis, maintain strategic orientation, maintain counter-cyclical adjustments, and strengthen coordination among monetary, fiscal and other policies.	neutral	forward looking	certain	2,019	279
adhering to the two unwavering commitments, the pboc will make coordinated efforts to implement macro policies, expand demand, conduct reform and innovation, as well as prevent and defuse risks, and integrate the implementation of the strategy of expanding domestic demand with deepening supply side structural reform.	dovish	forward looking	certain	2,023	853
the principle of makingthe rmb exchange rate reform a self-initiated, controllable and gradual processshould be followed to keep the rmb exchange rate basically stable at anadaptive and equilibrium level.	hawkish	forward looking	certain	2,008	899
on june 25, the monetary policy committee of the people’s bank of china (pbc) held the second quarterly meeting in 2019 (its 85th meeting) in beijing.	irrelevant	not forward looking	certain	2,019	282
after studying the direction and measures of monetary policy in the next stage, the committee held that, in view of implementing the decisions and arrangements made by the cpc central committee and the state council on macroeconomic management, relatively loose monetary policy should be conducted and policy consistency be maintained.	dovish	forward looking	certain	2,009	758
it was stressed by the attendees that, the pbc will follow the guidance of xi jinping’s thought on socialism with chinese characteristics for a new era, earnestly implement the guidelines of the fourth plenary session of the 19th central committee of the communist party of china (cpc) and the central economic work conference, continue acting in accordance with the decisions and arrangements of the cpc central committee and the state council, uphold the underlying principle of pursuing progress while ensuring stability, and coordinate the efforts to support pandemic control and economic and social development.	neutral	forward looking	certain	2,020	375
they agreed that since the beginning of this year, great achievements have been made in coordinating pandemic containment and economic and social development, and the economy has been recovering steadily.	hawkish	not forward looking	certain	2,020	937
the prudent and neutral monetary policy has brought about positive outcomes, as the macro leverage ratio has stablized, the measures adopted to prevent and mitigate financial risks have produced results, and the financial sector has provided solid support for the real economy.	dovish	forward looking	certain	2,018	92
while the sound monetary policy stance should be maintained, various measures should be adopted to appropriately adjust money supply and improve credit structure, so as to ensure the chinese economy further develop in a sustained, rapid and healthy manner.	dovish	forward looking	certain	2,002	371
it will innovate and improve approaches to macro regulation, keep the sound monetary policy appropriate and flexible, use a mix of monetary policy tools to keep liquidity reasonably adequate, and to ensure that the growth of broad money supply (m2) and aggregate financing to the real economy (afre) are in line with the nominal gdp growth.	dovish	forward looking	certain	2,019	190
the monetary policy committee of the pbc held thefirst quarterly meeting of 2007 in beijing days ago.	irrelevant	not forward looking	certain	2,007	546
efforts should be made to curb excessive growthof money and credit by adopting various monetary policy instruments, restrainthe excessive growth of money and credit and further improve credit structureto encourage growth in some sectors and discourage in others to ensure creditsupport to agricultural economy, job creation, students, small &medium-sized enterprises and other vulnerable groups.	hawkish	forward looking	certain	2,008	804
the meeting stressed that under the guidance of xi jinping thought on socialism with chinese characteristics for a new era, the pbc will earnestly implement the guidelines of the fifth plenary session of the 19th central committee of the communist party of china (cpc), the central economic work conference and the report on the work of the government, as well as the decisions and arrangements of the cpc central committee and the state council.	neutral	forward looking	certain	2,021	325
effective measures will be taken to prevent and defuse financial risks and strike a balance between stabilizing growth, preventing risks and curbing inflation.	hawkish	forward looking	certain	2,020	568
after discussion, representatives held that china is facing complex economic and financial situations both at home and abroad.	neutral	forward looking	certain	2,010	404
balance of international payments will be enhanced and the rmb exchangerate will be maintained basically stable at an adaptive and equilibrium level.	dovish	forward looking	certain	2,004	352
financial macro adjustmentshould be further improved to promote a steady and rapid economic growth aswell as price stability.	dovish	forward looking	certain	2,004	866
it was held at the meeting that the implementation of the existing monetary policies should be strengthened.	dovish	forward looking	certain	2,024	208
meanwhile, efforts shouldbe made to advance financial reform, and promote a coordinated development ofthe direct and indirect financing so as to enhance the effectiveness ofmonetary policy transmission.	dovish	forward looking	certain	2,005	679
the institutional reform in the financial sector will be deepened; the adjustment framework based on the two pillars of monetary and macro-prudential policies will be improved; the market-based interest rate reform and exchange rate regime reform will be deepened; and risk management will be strengthened to hold the bottom line of no systemic financial risks.	dovish	forward looking	certain	2,017	145
the pboc will also deepen the supply-side structural reform of the financial sector, guide large-sized banks to shift the focus of their services to communities, encourage small and medium-sized banks to focus on their main duties and major businesses, and give more support to banks in capital replenishment.	dovish	forward looking	certain	2,023	567
in line with the scientific approach to development, efforts would be made to enable domestic demand to play a greater role in driving economic growth, shift the development model and accelerate strategic restructuring.	dovish	forward looking	certain	2,009	793
the pbc continued to implement sound monetary policy, and strengthened its support to economic development while at the same time taking concrete measures to prevent and mitigate financial risks.	dovish	forward looking	certain	2,002	6
they agreed that, the impact of the covid-19 outbreak on the chinese economy is overall controllable, the economic growth remains resilient, and the long-term sound economic fundamentals stay unchanged.	neutral	forward looking	certain	2,020	329
it will resolutely prevent the formation and self-reinforcement of one-sided and unanimous expectations, and guard against the risk of exchange rate overshooting.	hawkish	forward looking	certain	2,024	857
it will continue to improve the credit structure, step up financial support to agriculture, rural areas, farmers, smes and other weak links, develop consumer credit, support the adjustment and revitalization of key industries and the development of emerging strategic industries, and promote independent innovation, mergers and reorganization, industrial relocation and balanced development across regions.	dovish	forward looking	certain	2,009	653
structural monetary policy tools will play a supportive role to further back key areas, weak links, as well as the sectors battered by covid-19.	dovish	forward looking	certain	2,022	612
meanwhile, the financial open-up will be further expanded to boost the vitality and resilience of the financial sector.	dovish	forward looking	certain	2,018	104
it was stressed at the meeting that under the guidance of xi jinping thought on socialism with chinese characteristics for a new era, the pboc will fully implement the guidelines of the 20th national congress of the communist party of china (cpc), the third plenary session of the 20th cpc central committee, the central economic work conference, and the central financial work conference, as well as the decisions and arrangements made by the cpc central committee and the state council.	neutral	forward looking	certain	2,024	21
in addition, measures will also be taken to further open up the financial sector at a high level and in two ways, consolidate the capability to manage economic and financial situation and prevent risks in an open market, and enable stronger capacities to participate in international financial governance.	dovish	forward looking	certain	2,019	517
it is agreed at the meeting that the pbc will continue to closely monitor profound changes in the economic and financial situation both at home and abroad, act skillfully in turning external pressure into strong drive for deepening reforms and opening up, and focus on performing our own duties.	neutral	forward looking	certain	2,019	514
it was stressedthat the sound monetary policy should be continued and the forward-looking,scientific and effective approach to macro financial management be furtherstrengthened in the coming period.	dovish	forward looking	certain	2,005	69
although some new developments emerged in current economicoperation needed to be further examined, growth of money supply and credit wasfaster than desired, which could possibly lead to low-quality economic growthand worsen structural problems, thereby damping the sustainable and healthydevelopment of economy.	hawkish	forward looking	certain	2,003	165
the participants analyzed the economic and financial developments at home and abroad.	irrelevant	not forward looking	certain	2,011	301
the financial system reform will be deepened, the two-pillar framework of monetary and macro-prudential policies and the monetary policy transmission mechanism will be improved.	neutral	forward looking	certain	2,018	648
the rmb exchange rate and market expectations have remained stable, and the economy has become more resilient against external shocks.	neutral	forward looking	certain	2,018	66
efforts should be made to increase the contribution of domestic demand, household consumption in particular, to economic growth, to shift development pattern, and to speed up strategic adjustment of economic structure.	dovish	forward looking	certain	2,009	680
the monetary policy committee of the pbc held the 2ndquarterly meeting of 2004 in beijing on june 18th.	irrelevant	not forward looking	certain	2,004	900
in doing so, the financial sector will work together to safeguard the stability of the financial market.	neutral	forward looking	certain	2,022	450
the pboc will make significant efforts in the areas of technology finance, green finance, inclusive finance, old-age finance, and digital finance, and continue to intensify support for major national strategies, key fields, and weak links, so as to speed up the development of new quality productive forces.	dovish	forward looking	certain	2,024	68
measures should be taken to actively advance industrial andinternational trade restructuring, promote the equilibrium of the bop, fosterthe transformation of economic growth pattern, and improve the efficiency ofeconomic growth.	dovish	forward looking	certain	2,006	700
the domestic economy and financial sectors both have made good progress in structural adjustments, yet deep-seated problems and critical contradictions still persist and the international economic and financial situation has become more complex.	neutral	not forward looking	uncertain	2,018	483
participants analyzed the domestic and international economic and financial situation.	irrelevant	not forward looking	certain	2,018	729
the pbc will impose strict controls over lending to highly energy-consuming and heavily polluting industries and enterprises with excess capacity.	hawkish	forward looking	certain	2,009	734
the relationship between economic recovery and risk prevention and control will be handled properly, and the bottom line that no systemic financial risk should occur will be firmly defended.	neutral	forward looking	certain	2,020	58

the participants analysed the current domestic and international economic and financial situations.

irrelevant

not forward looking

certain

2,013

549

moreover, measures will also be taken to further expand the high-level two-way opening-up of the financial sector, consolidate the capability of managing economic and financial situation and preventing risks in an open market, and enable stronger capacities to participate in the international financial governance.

dovish

forward looking

certain

2,019

476

the pboc has achieved remarkable results in the loan prime rate (lpr) reform, and given full play to the role of the mechanism for market-oriented adjustments of deposit rates.

dovish

not forward looking

certain

2,023

663

the meeting called for promoting structural adjustment,institutional reform and growth pattern while strengthening aggregates control soas to fully adopt the scientific approach to economic development; and speedingup construction of financial markets to improve the efficiency of monetarypolicy transmission.

dovish

forward looking

certain

2,004

820

it will pursue the strategy of expanding domestic demand while deepening supply-side structural reform, and leverage policy effectiveness while stimulating the vitality of business entities.

dovish

forward looking

certain

2,023

736

in doing so, the financial sector will work together to safeguard the steady development of the financial market.

neutral

forward looking

certain

2,024

867

appropriate measures should betaken to improve coordination among the macroeconomic policies, focusing on fosteringconcrete progress in the building of the socialist new countryside, expandingdomestic consumption demand, managing the growth of fixed asset investment atappropriate level and optimizing the investment structure.

dovish

forward looking

certain

2,006

32

the financing and credit structure will be improved and financial sector reform will be deepened to improve efficiency and build stronger capacity to serve the real economy.

dovish

forward looking

certain

2,014

990

the market-based interest rate reform will be furthered so that the market mechanism will play a fundamental role in resource allocation.

dovish

forward looking

certain

2,013

676

on september 25, the monetary policy committee of the people’s bank of china (pboc) held the third quarterly meeting of 2023 (its 102nd meeting) in beijing.

irrelevant

not forward looking

certain

2,023

234

the pbc will further bring into play the guiding role of central bank lending, central bank discounts, as well as the monetary policy tools that provide direct support for the real economy.

neutral

forward looking

certain

2,021

833

it was agreed thatthe chinese economy has maintained the rapid and sound growth momentum.

neutral

not forward looking

certain

2,005

892

in general,policy measures have achieved preliminary effects, as evidenced in the moderategrowth of money and credit and sound performance of the financial industry the committeeconducted an in-depth analysis of domestic and international economic andfinancial development.

dovish

not forward looking

certain

2,004

472

it will enhance the guiding role of government investment and policy incentives to enhance the multiplier effect and stimulate more private investment.

dovish

forward looking

certain

2,023

201

the committee held that, the package to cope with the international financial crisis would be implemented in a comprehensive manner, enriched and improved according to changes of the situation.

dovish

forward looking

certain

2,009

745

it will put efforts into implementing the action plan for stepping up support for the financing of sci-tech enterprises, and guide financial institutions to issue more medium and long-term (mlt) loans to the manufacturing sector based on market demands, so as to expedite the building of a modern industrial system.

dovish

forward looking

certain

2,024

678

the committee had in-depth review of the currenteconomic and financial development both at home and abroad and the policymeasures to be taken in the coming months.

neutral

not forward looking

certain

2,003

959

the pbc will properly manage the timing, intensity and effectiveness of monetary policy, so as to keep liquidity adequate at a reasonable level, keep the growth of money supply and aggregate financing to the real economy (afre) generally in line with nominal gdp growth, and maintain a basically stable macro leverage ratio.

neutral

forward looking

certain

2,021

710

the rmb exchange rate has remained stable, market expectations have improved, and the economy has become more resilient against external shocks.

neutral

not forward looking

certain

2,019

159

the monetarypolicy committee of the people’s bank of china (pbc) held its fourth quarterlymeeting of 2004 in beijing days ago.

irrelevant

not forward looking

certain

2,004

368

it was emphasized at the meeting that it was necessary to follow the latest developments in global economy and financial market and their impact, to continue the implementation of a prudent monetary policy, to give top priority to inflation control, to make macro-economic management more targeted, effective and forward-looking, and to manage the pace and strength of policies.

hawkish

forward looking

certain

2,011

185

while ensuring continuity and stability at aggregate level,preemptive and fine-tuning measures should be strengthened and the marketitself should be allowed to play its role in economic restructuring.

dovish

forward looking

certain

2,005

728

the pboc will accelerate building a diversified and seamless financial service system that covers the entire life cycle of sci-tech-based enterprises, which will facilitate building china into a great power in science and technology, and achieving sci-tech self-reliance and self-strengthening at higher levels.

dovish

forward looking

certain

2,024

735

efforts should be made tofully implement the scientific development approach by improving and carryingout each macroeconomic policy to prevent shifts from a relatively fast growthto an economic overheating and from structural price rise to full-scaleinflation, so as to realize good and rapid economic development.

hawkish

forward looking

certain

2,007

492

moreover, it will keep the rmb exchange rate basically stable at an adaptive and equilibrium level, and implement a mix of policy measures to rectify deviations and stabilize expectations.

neutral

forward looking

certain

2,024

505

remaining generally stable, the rmb exchange rate has become more flexible in two-way fluctuations and played its role as a stabilizer of the macro economy.

dovish

forward looking

certain

2,021

168

they agreed that, the impact of the covid-19 pandemic on the chinese economy is basically controllable, the economic growth remains resilient, and the long-term sound economic fundamentals stay unchanged.

neutral

forward looking

certain

2,020

38

meanwhile, efforts should be made to quicken the steps inthe development of direct financing and promote a coordinated development offinancial market.

dovish

forward looking

certain

2,006

101

in addition, the pbc will advance the high-level two-way opening-up of the financial markets, and improve the capacity for economic and financial oversight as well as risk management in an open economy.

dovish

forward looking

certain

2,022

233

it is their consensus view that the chinese economy has maintained sound growth momentum with strong resilience, and the switch to new growth drivers has gathered pace.

dovish

forward looking

certain

2,019

266

it will strengthen policy coordination across authorities to implement the package of policies to stabilize the economy and give full play to their roles in stabilizing the economy and providing reliefs for businesses.

dovish

forward looking

certain

2,022

470

it will put efforts into implementing the action plan for stepping up support for the financing of sci-tech enterprises, and guide financial institutions to issue more medium and long-term (mlt) loans to the manufacturing sector, so as to expedite the building of a modern industrial system.

dovish

forward looking

certain

2,023

688

monetary policy instruments should be adoptedto timely and moderately manage the financial system liquidity while avoiding majorfluctuation.

neutral

forward looking

certain

2,004

707

the monetarypolicy committee of the people’s bank of china (pbc) held its first quarterlymeeting of 2005 in beijing days ago.

irrelevant

not forward looking

certain

2,005

278

their view is that currently china’s major macroeconomic indicators are within a reasonable range, the economy has maintained a growth momentum with strong resilience, and new growth drivers are replacing the old ones.

neutral

not forward looking

certain

2,019

570

in general, the financial industry performed well in the first fivemonths of this year.

neutral

not forward looking

certain

2,003

670

in addition, the pboc will advance the high-level two-way opening-up of the financial sector, and enhance the capacity for economic and financial management as well as risk prevention and control in an open economy.

dovish

forward looking

certain

2,023

675

therefore, private enterprises will get financial support that matches their contribution to the economic and social development.

dovish

forward looking

certain

2,019

144

the pboc will make institutional arrangements for providing effective financial support for the real economy and improve the system for providing financial support for innovation.

dovish

forward looking

certain

2,023

918

moreover, it will deepen the market-oriented reform of exchange rates to enhance the flexibility of the rmb exchange rate, guide enterprises and financial institutions to remain risk neutral, strengthen expectation management, and promote the balance between internal and external equilibrium, so as to keep the rmb exchange rate basically stable at an adaptive and equilibrium level.

dovish

forward looking

certain

2,022

141

the monetary policy committee of the people's bank of china (pbc) held its fourth quarterly meeting of 2008 in beijing days ago.

irrelevant

not forward looking

certain

2,008

263

market supply and demand offoreign exchange should be allowed to play a greater role in the process ofincreasing rmb exchange rate flexibility, with a view to keeping the rmbexchange rate basically stable at an adaptive and equilibrium level.

dovish

forward looking

certain

2,007

128

days ago, the 3rd quarterly meeting of monetary policy committee was held in beijing.

irrelevant

not forward looking

certain

2,011

607

with financial risks under effective control, the financial sector has gradually improved its quality and efficiency in serving the real economy.

hawkish

not forward looking

certain

2,021

108

the committee conducted an in-depth analysis ofcurrent economic and financial situation both at home and abroad.

neutral

not forward looking

certain

2,005

105

however, the foundation for economic recovery was not solid, especially given the grave external environment due to the uncertain prospect of international economy and declining external demand.

dovish

not forward looking

uncertain

2,009

35

in this way, private enterprises will get financial support proportionate to their contribution to the economic and social development.

dovish

forward looking

certain

2,020

839

it was pointed out that close attention should be paid to developments of the world economic and financial situations in the second half of this year.

neutral

forward looking

uncertain

2,002

537

the monetarypolicy committee of the people’s bank of china (pbc) held its third quarterlymeeting of 2007 in beijing days ago.

irrelevant

not forward looking

certain

2,007

495

based on the requirements in deepening supply-side structural reform, efforts will be made to optimize financing and credit structures with an emphasis on adjusting and optimizing the structure of financial system, and to enable private enterprises to get financial support that matches their contributions to the economic and social development.

dovish

forward looking

certain

2,019

979

the pbc will work to maintain stability in job creation, preserve financial stability, support stable growth of trade, foreign direct investment, and domestic investment, and keep market expectations stable in accordance with decisions and arrangements by the cpc central committee and the state council.

neutral

forward looking

certain

2,018

271

the loan prime rate (lpr) reform has been continuously paying dividends, with transmission efficiency of monetary policy enhanced and lending rates falling significantly.

dovish

not forward looking

certain

2,020

8

with these efforts, the financial market is expected to become more vigorous and resilient, and a modern financial system that is highly adaptable, competitive, and inclusive will be developed.

dovish

forward looking

certain

2,021

737

efforts should be made to optimize credit structure, to bolster the financial support for weak links such as agriculture, farmers and the rural areas and small- and medium-sized enterprises, to address financing difficulties of certain enterprises, and to tighten up lending extended to the enterprises in highly energy-consuming, heavily polluting and overcapacity industries.

hawkish

forward looking

certain

2,009

523

the prudent and neutral monetary policy has brought about positive outcomes, as the macro leverage ratio has stabilized, the measures adopted to prevent and mitigate financial risks have produced results, and the financial sector has provided stronger support for the real economy.

dovish

not forward looking

certain

2,018

968

it is agreed at the meeting that the pbc will continue to closely monitor the marginal changes in the economic and financial situations both at home and abroad, strengthen the sense of crisis, maintain strategic orientation, maintain counter-cyclical adjustments, and strengthen coordination among monetary, fiscal and other policies.

neutral

forward looking

certain

2,019

279

adhering to the two unwavering commitments, the pboc will make coordinated efforts to implement macro policies, expand demand, conduct reform and innovation, as well as prevent and defuse risks, and integrate the implementation of the strategy of expanding domestic demand with deepening supply side structural reform.

dovish

forward looking

certain

2,023

853

the principle of makingthe rmb exchange rate reform a self-initiated, controllable and gradual processshould be followed to keep the rmb exchange rate basically stable at anadaptive and equilibrium level.

hawkish

forward looking

certain

2,008

899

on june 25, the monetary policy committee of the people’s bank of china (pbc) held the second quarterly meeting in 2019 (its 85th meeting) in beijing.

irrelevant

not forward looking

certain

2,019

282

after studying the direction and measures of monetary policy in the next stage, the committee held that, in view of implementing the decisions and arrangements made by the cpc central committee and the state council on macroeconomic management, relatively loose monetary policy should be conducted and policy consistency be maintained.

dovish

forward looking

certain

2,009

758

it was stressed by the attendees that, the pbc will follow the guidance of xi jinping’s thought on socialism with chinese characteristics for a new era, earnestly implement the guidelines of the fourth plenary session of the 19th central committee of the communist party of china (cpc) and the central economic work conference, continue acting in accordance with the decisions and arrangements of the cpc central committee and the state council, uphold the underlying principle of pursuing progress while ensuring stability, and coordinate the efforts to support pandemic control and economic and social development.

neutral

forward looking

certain

2,020

375

they agreed that since the beginning of this year, great achievements have been made in coordinating pandemic containment and economic and social development, and the economy has been recovering steadily.

hawkish

not forward looking

certain

2,020

937

the prudent and neutral monetary policy has brought about positive outcomes, as the macro leverage ratio has stablized, the measures adopted to prevent and mitigate financial risks have produced results, and the financial sector has provided solid support for the real economy.

dovish

forward looking

certain

2,018

92

while the sound monetary policy stance should be maintained, various measures should be adopted to appropriately adjust money supply and improve credit structure, so as to ensure the chinese economy further develop in a sustained, rapid and healthy manner.

dovish

forward looking

certain

2,002

371

it will innovate and improve approaches to macro regulation, keep the sound monetary policy appropriate and flexible, use a mix of monetary policy tools to keep liquidity reasonably adequate, and to ensure that the growth of broad money supply (m2) and aggregate financing to the real economy (afre) are in line with the nominal gdp growth.

dovish

forward looking

certain

2,019

190

the monetary policy committee of the pbc held thefirst quarterly meeting of 2007 in beijing days ago.

irrelevant

not forward looking

certain

2,007

546

efforts should be made to curb excessive growthof money and credit by adopting various monetary policy instruments, restrainthe excessive growth of money and credit and further improve credit structureto encourage growth in some sectors and discourage in others to ensure creditsupport to agricultural economy, job creation, students, small &medium-sized enterprises and other vulnerable groups.

hawkish

forward looking

certain

2,008

804

the meeting stressed that under the guidance of xi jinping thought on socialism with chinese characteristics for a new era, the pbc will earnestly implement the guidelines of the fifth plenary session of the 19th central committee of the communist party of china (cpc), the central economic work conference and the report on the work of the government, as well as the decisions and arrangements of the cpc central committee and the state council.

neutral

forward looking

certain

2,021

325

effective measures will be taken to prevent and defuse financial risks and strike a balance between stabilizing growth, preventing risks and curbing inflation.

hawkish

forward looking

certain

2,020

568

after discussion, representatives held that china is facing complex economic and financial situations both at home and abroad.

neutral

forward looking

certain

2,010

404

balance of international payments will be enhanced and the rmb exchangerate will be maintained basically stable at an adaptive and equilibrium level.

dovish

forward looking

certain

2,004

352

financial macro adjustmentshould be further improved to promote a steady and rapid economic growth aswell as price stability.

dovish

forward looking

certain

2,004

866

it was held at the meeting that the implementation of the existing monetary policies should be strengthened.

dovish

forward looking

certain

2,024

208

meanwhile, efforts shouldbe made to advance financial reform, and promote a coordinated development ofthe direct and indirect financing so as to enhance the effectiveness ofmonetary policy transmission.

dovish

forward looking

certain

2,005

679

the institutional reform in the financial sector will be deepened; the adjustment framework based on the two pillars of monetary and macro-prudential policies will be improved; the market-based interest rate reform and exchange rate regime reform will be deepened; and risk management will be strengthened to hold the bottom line of no systemic financial risks.

dovish

forward looking

certain

2,017

145

the pboc will also deepen the supply-side structural reform of the financial sector, guide large-sized banks to shift the focus of their services to communities, encourage small and medium-sized banks to focus on their main duties and major businesses, and give more support to banks in capital replenishment.

dovish

forward looking

certain

2,023

567

in line with the scientific approach to development, efforts would be made to enable domestic demand to play a greater role in driving economic growth, shift the development model and accelerate strategic restructuring.

dovish

forward looking

certain

2,009

793

the pbc continued to implement sound monetary policy, and strengthened its support to economic development while at the same time taking concrete measures to prevent and mitigate financial risks.

dovish

forward looking

certain

2,002

6

they agreed that, the impact of the covid-19 outbreak on the chinese economy is overall controllable, the economic growth remains resilient, and the long-term sound economic fundamentals stay unchanged.

neutral

forward looking

certain

2,020

329

it will resolutely prevent the formation and self-reinforcement of one-sided and unanimous expectations, and guard against the risk of exchange rate overshooting.

hawkish

forward looking

certain

2,024

857

it will continue to improve the credit structure, step up financial support to agriculture, rural areas, farmers, smes and other weak links, develop consumer credit, support the adjustment and revitalization of key industries and the development of emerging strategic industries, and promote independent innovation, mergers and reorganization, industrial relocation and balanced development across regions.

dovish

forward looking

certain

2,009

653

structural monetary policy tools will play a supportive role to further back key areas, weak links, as well as the sectors battered by covid-19.

dovish

forward looking

certain

2,022

612

meanwhile, the financial open-up will be further expanded to boost the vitality and resilience of the financial sector.

dovish

forward looking

certain

2,018

104

it was stressed at the meeting that under the guidance of xi jinping thought on socialism with chinese characteristics for a new era, the pboc will fully implement the guidelines of the 20th national congress of the communist party of china (cpc), the third plenary session of the 20th cpc central committee, the central economic work conference, and the central financial work conference, as well as the decisions and arrangements made by the cpc central committee and the state council.

neutral

forward looking

certain

2,024

21

in addition, measures will also be taken to further open up the financial sector at a high level and in two ways, consolidate the capability to manage economic and financial situation and prevent risks in an open market, and enable stronger capacities to participate in international financial governance.

dovish

forward looking

certain

2,019

517

it is agreed at the meeting that the pbc will continue to closely monitor profound changes in the economic and financial situation both at home and abroad, act skillfully in turning external pressure into strong drive for deepening reforms and opening up, and focus on performing our own duties.

neutral

forward looking

certain

2,019

514

it was stressedthat the sound monetary policy should be continued and the forward-looking,scientific and effective approach to macro financial management be furtherstrengthened in the coming period.

dovish

forward looking

certain

2,005

69

although some new developments emerged in current economicoperation needed to be further examined, growth of money supply and credit wasfaster than desired, which could possibly lead to low-quality economic growthand worsen structural problems, thereby damping the sustainable and healthydevelopment of economy.

hawkish

forward looking

certain

2,003

165

the participants analyzed the economic and financial developments at home and abroad.

irrelevant

not forward looking

certain

2,011

301

the financial system reform will be deepened, the two-pillar framework of monetary and macro-prudential policies and the monetary policy transmission mechanism will be improved.

neutral

forward looking

certain

2,018

648

the rmb exchange rate and market expectations have remained stable, and the economy has become more resilient against external shocks.

neutral

forward looking

certain

2,018

66

efforts should be made to increase the contribution of domestic demand, household consumption in particular, to economic growth, to shift development pattern, and to speed up strategic adjustment of economic structure.

dovish

forward looking

certain

2,009

680

the monetary policy committee of the pbc held the 2ndquarterly meeting of 2004 in beijing on june 18th.

irrelevant

not forward looking

certain

2,004

900

in doing so, the financial sector will work together to safeguard the stability of the financial market.

neutral

forward looking

certain

2,022

450

the pboc will make significant efforts in the areas of technology finance, green finance, inclusive finance, old-age finance, and digital finance, and continue to intensify support for major national strategies, key fields, and weak links, so as to speed up the development of new quality productive forces.

dovish

forward looking

certain

2,024

68

measures should be taken to actively advance industrial andinternational trade restructuring, promote the equilibrium of the bop, fosterthe transformation of economic growth pattern, and improve the efficiency ofeconomic growth.

dovish

forward looking

certain

2,006

700

the domestic economy and financial sectors both have made good progress in structural adjustments, yet deep-seated problems and critical contradictions still persist and the international economic and financial situation has become more complex.

neutral

not forward looking

uncertain

2,018

483

participants analyzed the domestic and international economic and financial situation.

irrelevant

not forward looking

certain

2,018

729

the pbc will impose strict controls over lending to highly energy-consuming and heavily polluting industries and enterprises with excess capacity.

hawkish

forward looking

certain

2,009

734

the relationship between economic recovery and risk prevention and control will be handled properly, and the bottom line that no systemic financial risk should occur will be firmly defended.

neutral

forward looking

certain

2,020

58