People's Bank of China Deputy Governor Lu Lei said monetary stability and financial stability remain the central goals of the central bank’s work, supported by a dual-pillar framework combining the monetary policy system and macroprudential management system. Lu said the central bank will strengthen counter-cyclical and cross-cyclical adjustments, align aggregate social financing and money supply growth with economic growth and price targets, improve market-based interest rate mechanisms, enhance renminbi exchange rate flexibility, and keep the exchange rate basically stable at a reasonable and balanced level. The central bank will also expand macroprudential and financial stability functions, broaden macroprudential management coverage, enrich policy tools, strengthen monitoring and assessment, improve the financial stability guarantee system, and mitigate financial risks in key areas.