中國(guo)人民銀行貨幣政策委員會2023年第(di)四季度（總(zong)第(di)103次(ci)）例會于12月27日(ri)在北京召(zhao)開。

會議分(fen)析了(le)國(guo)內外經濟(ji)(ji)金融(rong)形勢。會議認為，今年以來宏(hong)觀(guan)政(zheng)策(ce)堅持穩(wen)(wen)(wen)字當(dang)頭(tou)、穩(wen)(wen)(wen)中求(qiu)進，穩(wen)(wen)(wen)健的(de)貨幣政(zheng)策(ce)精(jing)準有(you)(you)力(li)，強化逆周期和跨周期調(diao)節(jie)，綜合運(yun)用(yong)利率(lv)(lv)、準備金、再貸款(kuan)等工具，切(qie)實(shi)服務實(shi)體經濟(ji)(ji)，有(you)(you)效(xiao)防控金融(rong)風險(xian)，為經濟(ji)(ji)回升向(xiang)好創造適宜的(de)貨幣金融(rong)環境。貸款(kuan)市(shi)場報(bao)價利率(lv)(lv)改(gai)革成效(xiao)顯(xian)著，存款(kuan)利率(lv)(lv)市(shi)場化調(diao)整(zheng)機制作用(yong)有(you)(you)效(xiao)發揮，貨幣政(zheng)策(ce)傳導效(xiao)率(lv)(lv)增強，社會融(rong)資成本明顯(xian)下(xia)降。外匯市(shi)場供求(qiu)基(ji)(ji)本平衡，經常(chang)賬戶順差(cha)穩(wen)(wen)(wen)定，外匯儲備充足，人民幣匯率(lv)(lv)雙向(xiang)浮動、預期趨穩(wen)(wen)(wen)，在(zai)合理(li)均衡水平上(shang)保(bao)持基(ji)(ji)本穩(wen)(wen)(wen)定，發揮了(le)宏(hong)觀(guan)經濟(ji)(ji)穩(wen)(wen)(wen)定器功能。

會議指出(chu)(chu)，穩(wen)健(jian)的貨幣(bi)(bi)政(zheng)策要靈(ling)活適度、精(jing)準(zhun)有(you)(you)效。當前外部環境更(geng)(geng)趨復雜(za)嚴峻，國際(ji)經(jing)濟(ji)(ji)貿易(yi)投資放(fang)緩，通脹出(chu)(chu)現高位回落(luo)趨勢，發(fa)達國家利(li)率(lv)保持高位。我國經(jing)濟(ji)(ji)回升(sheng)向好(hao)(hao)、動(dong)力增強，高質量(liang)發(fa)展扎實(shi)推進(jin)(jin)，但仍(reng)面臨有(you)(you)效需求不(bu)足(zu)、社會預期偏弱等挑戰。要穩(wen)中求進(jin)(jin)、以進(jin)(jin)促穩(wen)，加(jia)大宏觀政(zheng)策調(diao)控力度，不(bu)斷鞏固穩(wen)中向好(hao)(hao)的基(ji)礎。精(jing)準(zhun)有(you)(you)效實(shi)施穩(wen)健(jian)的貨幣(bi)(bi)政(zheng)策，更(geng)(geng)加(jia)注重做好(hao)(hao)逆周期和跨周期調(diao)節，更(geng)(geng)好(hao)(hao)發(fa)揮(hui)貨幣(bi)(bi)政(zheng)策工具的總量(liang)和結(jie)構雙重功(gong)能，著力擴(kuo)大內需、提振信心，推動(dong)經(jing)濟(ji)(ji)良性循(xun)環。

會議(yi)認為，要加(jia)大(da)已出(chu)臺貨幣(bi)政(zheng)策實施力度。保持(chi)(chi)(chi)流動性合(he)(he)(he)理充裕(yu)，引導信貸合(he)(he)(he)理增長、均(jun)衡投放，保持(chi)(chi)(chi)社(she)會融資(zi)(zi)規模、貨幣(bi)供應量(liang)同經濟增長和(he)價格水(shui)平(ping)預期(qi)目標相匹配。增強(qiang)(qiang)政(zheng)府投資(zi)(zi)和(he)政(zheng)策激(ji)勵(li)的(de)引導作用(yong)，提高(gao)乘(cheng)數效(xiao)(xiao)應，有效(xiao)(xiao)帶(dai)動激(ji)發更(geng)多民(min)間(jian)投資(zi)(zi)。促進(jin)物價低位回升，保持(chi)(chi)(chi)物價在(zai)(zai)合(he)(he)(he)理水(shui)平(ping)。完善市場化(hua)利率(lv)(lv)形(xing)成和(he)傳導機(ji)制(zhi)，發揮央行政(zheng)策利率(lv)(lv)引導作用(yong)，釋(shi)放貸款市場報價利率(lv)(lv)改(gai)革(ge)和(he)存款利率(lv)(lv)市場化(hua)調整機(ji)制(zhi)效(xiao)(xiao)能(neng)，推動企業(ye)融資(zi)(zi)和(he)居民(min)信貸成本穩(wen)中(zhong)有降。積(ji)極(ji)盤(pan)活被低效(xiao)(xiao)占用(yong)的(de)金融資(zi)(zi)源，提高(gao)資(zi)(zi)金使用(yong)效(xiao)(xiao)率(lv)(lv)。深化(hua)匯率(lv)(lv)市場化(hua)改(gai)革(ge)，引導企業(ye)和(he)金融機(ji)構堅(jian)持(chi)(chi)(chi)“風(feng)險中(zhong)性”理念，綜(zong)合(he)(he)(he)施策、校正(zheng)背離、穩(wen)定預期(qi)，堅(jian)決(jue)對順周期(qi)行為予(yu)以糾(jiu)偏，堅(jian)決(jue)防范匯率(lv)(lv)超調風(feng)險，防止形(xing)成單邊一致性預期(qi)并自(zi)我強(qiang)(qiang)化(hua)，保持(chi)(chi)(chi)人民(min)幣(bi)匯率(lv)(lv)在(zai)(zai)合(he)(he)(he)理均(jun)衡水(shui)平(ping)上的(de)基(ji)本穩(wen)定。

會(hui)議(yi)指出，要深化(hua)(hua)金(jin)(jin)(jin)(jin)融(rong)(rong)(rong)供給側結構性改革，構建(jian)金(jin)(jin)(jin)(jin)融(rong)(rong)(rong)有(you)效支(zhi)持(chi)實(shi)(shi)(shi)體(ti)經(jing)濟(ji)的(de)體(ti)制(zhi)機(ji)制(zhi)。引導(dao)(dao)大(da)(da)銀行服務(wu)(wu)重心下(xia)沉，推(tui)動中小銀行聚(ju)焦主(zhu)責(ze)主(zhu)業(ye)(ye)(ye)，支(zhi)持(chi)銀行補充(chong)資本，共同(tong)維護金(jin)(jin)(jin)(jin)融(rong)(rong)(rong)市場的(de)穩(wen)定(ding)發展(zhan)(zhan)。做好科技(ji)金(jin)(jin)(jin)(jin)融(rong)(rong)(rong)、綠(lv)色(se)(se)金(jin)(jin)(jin)(jin)融(rong)(rong)(rong)、普惠金(jin)(jin)(jin)(jin)融(rong)(rong)(rong)、養老(lao)金(jin)(jin)(jin)(jin)融(rong)(rong)(rong)、數(shu)字(zi)金(jin)(jin)(jin)(jin)融(rong)(rong)(rong)“五篇大(da)(da)文(wen)章”，實(shi)(shi)(shi)施(shi)好存續(xu)結構性貨(huo)幣政(zheng)策(ce)工具，落(luo)實(shi)(shi)(shi)好再貸(dai)款再貼現額度，繼(ji)續(xu)加(jia)(jia)大(da)(da)對普惠金(jin)(jin)(jin)(jin)融(rong)(rong)(rong)、綠(lv)色(se)(se)轉(zhuan)型、科技(ji)創(chuang)新、數(shu)字(zi)經(jing)濟(ji)、基礎(chu)設(she)施(shi)建(jian)設(she)等支(zhi)持(chi)力(li)(li)度，綜(zong)合(he)施(shi)策(ce)支(zhi)持(chi)區(qu)域(yu)協調發展(zhan)(zhan)。落(luo)實(shi)(shi)(shi)好加(jia)(jia)大(da)(da)力(li)(li)度支(zhi)持(chi)科技(ji)型企業(ye)(ye)(ye)融(rong)(rong)(rong)資行動方案，引導(dao)(dao)金(jin)(jin)(jin)(jin)融(rong)(rong)(rong)機(ji)構增(zeng)加(jia)(jia)制(zhi)造業(ye)(ye)(ye)中長期貸(dai)款，支(zhi)持(chi)加(jia)(jia)快建(jian)設(she)現代化(hua)(hua)產(chan)(chan)業(ye)(ye)(ye)體(ti)系。堅(jian)持(chi)“兩個毫不(bu)動搖”，持(chi)續(xu)做好支(zhi)持(chi)民營經(jing)濟(ji)發展(zhan)(zhan)壯大(da)(da)的(de)金(jin)(jin)(jin)(jin)融(rong)(rong)(rong)服務(wu)(wu)。以(yi)促進(jin)實(shi)(shi)(shi)現碳達峰、碳中和(he)為目標完善綠(lv)色(se)(se)金(jin)(jin)(jin)(jin)融(rong)(rong)(rong)體(ti)系。優化(hua)(hua)大(da)(da)宗(zong)消(xiao)費品和(he)社會(hui)服務(wu)(wu)領域(yu)消(xiao)費金(jin)(jin)(jin)(jin)融(rong)(rong)(rong)服務(wu)(wu)，繼(ji)續(xu)加(jia)(jia)大(da)(da)對企業(ye)(ye)(ye)穩(wen)崗擴崗和(he)重點群(qun)體(ti)創(chuang)業(ye)(ye)(ye)就業(ye)(ye)(ye)的(de)金(jin)(jin)(jin)(jin)融(rong)(rong)(rong)支(zhi)持(chi)力(li)(li)度。因(yin)城施(shi)策(ce)精準實(shi)(shi)(shi)施(shi)差(cha)別化(hua)(hua)住(zhu)房(fang)信(xin)貸(dai)政(zheng)策(ce)，更好支(zhi)持(chi)剛性和(he)改善性住(zhu)房(fang)需求(qiu)，一視同(tong)仁滿足不(bu)同(tong)所(suo)有(you)制(zhi)房(fang)地(di)產(chan)(chan)企業(ye)(ye)(ye)合(he)理(li)融(rong)(rong)(rong)資需求(qiu)，促進(jin)房(fang)地(di)產(chan)(chan)市場平穩(wen)健康(kang)發展(zhan)(zhan)。加(jia)(jia)大(da)(da)對保(bao)障性住(zhu)房(fang)建(jian)設(she)、“平急兩用(yong)”公共基礎(chu)設(she)施(shi)建(jian)設(she)、城中村改造的(de)金(jin)(jin)(jin)(jin)融(rong)(rong)(rong)支(zhi)持(chi)力(li)(li)度，推(tui)動加(jia)(jia)快構建(jian)房(fang)地(di)產(chan)(chan)發展(zhan)(zhan)新模式。落(luo)實(shi)(shi)(shi)促進(jin)平臺(tai)經(jing)濟(ji)健康(kang)發展(zhan)(zhan)的(de)金(jin)(jin)(jin)(jin)融(rong)(rong)(rong)政(zheng)策(ce)措施(shi)。切實(shi)(shi)(shi)推(tui)進(jin)金(jin)(jin)(jin)(jin)融(rong)(rong)(rong)高水(shui)平雙向開放，提高開放條件(jian)下(xia)經(jing)濟(ji)金(jin)(jin)(jin)(jin)融(rong)(rong)(rong)管理(li)能(neng)力(li)(li)和(he)防控風險能(neng)力(li)(li)。

會(hui)議強調(diao)(diao)，要以習近平新(xin)時代(dai)中(zhong)國(guo)特(te)色社會(hui)主義思想為指導，全(quan)面貫徹(che)落實黨(dang)的(de)(de)二十大、中(zhong)央(yang)經(jing)(jing)(jing)濟工作會(hui)議和(he)(he)中(zhong)央(yang)金融(rong)工作會(hui)議精神(shen)，按照黨(dang)中(zhong)央(yang)、國(guo)務(wu)院的(de)(de)決(jue)策部(bu)署，堅持(chi)(chi)穩中(zhong)求進工作總(zong)基調(diao)(diao)，牢牢把握高質量(liang)發(fa)展首要任務(wu)，扎實推(tui)進中(zhong)國(guo)式現代(dai)化(hua)，完整、準確、全(quan)面貫徹(che)新(xin)發(fa)展理念，加(jia)快構建新(xin)發(fa)展格局。把實施擴大內需戰略(lve)同深化(hua)供(gong)給(gei)側結(jie)(jie)構性改(gai)革有機結(jie)(jie)合起來，進一(yi)步加(jia)強部(bu)門(men)間政(zheng)策協(xie)調(diao)(diao)配合，強化(hua)政(zheng)策統(tong)籌，充分發(fa)揮貨幣信貸政(zheng)策效能，兼顧好內部(bu)均(jun)衡(heng)和(he)(he)外部(bu)均(jun)衡(heng)。切實增(zeng)(zeng)(zeng)強經(jing)(jing)(jing)濟活力、防范(fan)化(hua)解風險、改(gai)善社會(hui)預期，鞏固和(he)(he)增(zeng)(zeng)(zeng)強經(jing)(jing)(jing)濟回升向好態勢，持(chi)(chi)續推(tui)動經(jing)(jing)(jing)濟實現質的(de)(de)有效提升和(he)(he)量(liang)的(de)(de)合理增(zeng)(zeng)(zeng)長。

本次會(hui)(hui)議由中國(guo)(guo)人(ren)民(min)(min)銀行(xing)(xing)行(xing)(xing)長(chang)兼貨幣政(zheng)策委員會(hui)(hui)主(zhu)席(xi)潘功(gong)勝主(zhu)持(chi)，貨幣政(zheng)策委員會(hui)(hui)委員廖岷、張青松、李(li)云(yun)澤(ze)、易會(hui)(hui)滿(man)、康(kang)義、朱鶴新、劉(liu)世錦、蔡昉、王(wang)一鳴(ming)出(chu)席(xi)會(hui)(hui)議。徐守本、李(li)春臨、劉(liu)國(guo)(guo)強、田國(guo)(guo)立(li)因(yin)公務請假。中國(guo)(guo)人(ren)民(min)(min)銀行(xing)(xing)北京市分行(xing)(xing)、山西省分行(xing)(xing)、海南(nan)省分行(xing)(xing)、四(si)川(chuan)省分行(xing)(xing)、西藏(zang)自治區分行(xing)(xing)負責(ze)同志列席(xi)會(hui)(hui)議。