Ahead of the National Day holiday, the People’s Bank of China (PBOC) has continuously released growth-stabilizing signals and rolled out a series of optimized monetary policies. By cutting interest rates, expanding re-loan quotas and scaling up financial support for new infrastructure networks, the central bank effectively unclogs financing bottlenecks for the real economy and consolidates financial support for economic recovery in the fourth quarter. These policies focus heavily on micro and small enterprises, technological innovation and people’s livelihood, balancing consumption and investment stabilization.

The latest policy adjustments adopt a targeted and precise liquidity injection approach instead of extensive easing. On one hand, moderate interest rate cuts lower overall market financing costs, easing operational pressures on enterprises and credit burdens on household consumption. On the other hand, expanded special re-loan quotas offer targeted support for vulnerable links in the real economy, while strengthening financial backing for new infrastructure and digital economy development.

Meanwhile, new regulations on online financial product marketing officially took effect on September 30, standardizing market order, rectifying irregular internet financial promotions and protecting investors’ legitimate rights and interests. The current monetary and financial framework features cost reduction, expanded capital supply and strengthened regulation, ensuring sufficient liquidity for the real economy while fending off financial risks. With continuous policy implementation, financing conditions for small and medium-sized enterprises will keep improving, further fueling consumption and investment recovery momentum in the fourth quarter.