Secondly, the adoption of inflation targeting required greater public visibility and thirdly, a mandate to the central banks, either explicitly or implicitly, for maintaining financial stability in a world where the financial markets and their expectations matter.
The growth rate may be a bit lower than before, but we will be able to achieve sustainable development as long as we can ensure high-quality development, full employment and “lucid waters and lush mountains.” By saying these things, hopefully I can make you understand that while thinking about the monetary policy, we need to take into account the basic feature of economic development: China’s economy is moving towards its goal of highquality development.