Our faculty members Zhao Aifeng and Luo Guofen co-authored a report on political advice Maintaining Credit Growth Rate is the Focus of Cross-Cycle Adjustment of Monetary Policy (Zhao Aifeng, Wang Hao and Luo Guofen), which was adopted by the National Committee of the Chinese People's Political Consultative Conference in a single article.
The special report first analyzed the impact of the fall in credit growth on economic growth, and clarified through data analysis that the main reason for the fall in credit growth was due to the decline in financing demand from non-financial enterprises. Finally, on the basis of the general tone of continuing to maintain moderately loose liquidity and a flexible and precise prudent monetary policy, three policy recommendations for the cross-cycle adjustment of monetary policy were put forward.
Translator: ZHOU Yiwei
Reviewer: FU Wenhan
