On March 6, the Economic Theme Press Conference was convened as part of the Fourth Session of the 14th National People's Congress. Pan Gongsheng, Governor of the People's Bank of China, announced that in 2026, the central bank will adopt a moderately accommodative monetary policy stance. This approach will involve the strategic and flexible use of tools such as reserve requirement ratio adjustments and interest rate reductions. The aim is to harness the combined effects of both incremental and existing policy measures, as well as to foster synergy between monetary and fiscal policies. From a quantitative perspective, the central bank will make comprehensive use of short, medium, and long-term policy instruments to ensure that market liquidity remains abundant. This will involve coordinating the growth of the social financing scale and money supply with the objectives of economic growth and the anticipated price level.