yi gang : new year address new year address by mr yi gang, governor of the people's bank of china, 1 january 2021. * * * at the time of ringing out the old and ringing in the new, we are going to bid farewell to the unforgettable 2020 and greet the first beam of sunlight in 2021. at this moment, the chang ’ an avenue in beijing is lined with bright lights and filled with busy traffic. the office building of the headquarters of the people ’ s bank of china ( pbc ) is still brightly lit and our staff is as busy as usual. many staff members of the pbc remain dedicated to their work around the clock. i would like to extend my new year wishes to every staff member of the pbc and your family, and pay my highest respects to those who remain at their posts during the holiday. in the meantime, i would like to express heartfelt gratitude to all sectors of society for your continuous care and support for the work of the pbc. in 2020, we not only lived through difficult times but also achieved significant progress. as the covid - 19 pandemic wreaked havoc globally, we followed the guidance of the xi jinping thought on socialism with chinese characteristics for a new era, and resolutely implemented the decisions and arrangements made by the central committee of the communist party of china ( cpc ) and the state council and the requirements of the financial stability and development committee ( fsdc ) under the state council. putting the people ’ s interests first all the time, we proceeded with confidence, met the challenges and acted proactively in response. the macro regulation has become more scientific and efficient, the support to the real economy stronger and better - targeted, and decisive achievements have been secured in the three critical battles. with these efforts, we have made contributions, in the domain of finance, to achieving the main targets and tasks of the 13th five - year plan and to building a moderately prosperous society in all respects. we gave top priority to coordinating pandemic containment and economic and social development. the pbc took prompt actions as called upon to tackle the unexpected covid - 19 outbreak. during the spring festival of 2020, the pbc staff responsible for money and credit, payment and settlement, cash supply, treasury allocation, foreign exchange services and other businesses gave up family reunions and devoted themselves to work at the risk of their own safety. some worked on financial measures bolstering pan

and deepened financial reforms to facilitate high - level opening - up. in fulfilling the duties of the fsdc office, we further strengthened the coordination of financial regulation, advanced the market - based reform of interest rates and rmb exchange rate, kept improving the framework of macroprudential regulation, enhanced the quality and efficiency of financial services and rolled out a series of measures to facilitate trade and investment. furthermore, we sped up the implementation of unveiled measures for financial opening - up and made remarkable achievements in international exchanges and cooperation. propelled by financial reform and opening - up, we forged ahead on the way to win the three critical battles. to be specific, we made efforts to forestall and defuse major financial risks and put up a robust financial safety net ; we provided financial support for targeted poverty alleviation to ensure that no one is left behind on the way towards a moderately prosperous society in all respects ; and we fostered a green finance system to act on the principle that “ lucid waters and lush mountains are invaluable assets ”. while making solid progress in our work, we also cared for the physical health and mental wellbeing of our staff members and the growth of young colleagues, as health is the foundation of everything. during the combat against the pandemic, we were not only concerned about the safety of those on the frontline, but also paid close attention to the health of all staff members. we required pbc branches, sub - branches and institutions at all levels to provide anti - pandemic supplies and put in place a mix of strict prevention and control measures, so as to defend all staff members against the pandemic. to our delight, in the face of the pandemic, our young colleagues have kept firmly in mind the instructions and expectations of general secretary xi jinping for them to take on heavy duties in the face of difficulties and meet the most urgent needs of the party and the people. you have lived up to our expectations. we have seen your potentials. we are proud of you! winter will eventually pass, and spring is sure to come. as the year of 2021 marks the commencement of the 14th five - year plan period, we will embark on a new course of building a modern socialist country in all respects. we will renew our efforts at a new starting point. we should unite around the cpc central committee with comrade xi jinping at the core, continuously enhance the “ awareness of maintaining political integrity, thinking in big -