The executive meeting of the State Council held on June 6 pointed out that we should support financing in key areas and weak links, establish two special refinancing projects: scientific and technological innovation and inclusive pension, and the people's Bank of China should provide 60% and 100% refinancing support for the loan principal respectively. The meeting pointed out that we should make timely and flexible use of various monetary policy tools such as refinancing, give better play to the dual functions of aggregate and structure, and increase support for the real economy. Dong ximiao, a part-time researcher at the Institute of finance of Fudan University, said that as a structural monetary policy tool, refinancing can help reduce the capital cost of financial institutions and enable financial institutions to provide credit support to the real economy at a lower interest rate; Second, it helps to guide financial institutions to support relevant fields in a targeted way, such as supporting agriculture and small-scale refinancing, which can better guide the flow of credit funds to small and micro enterprises and the fields of "agriculture, rural areas and farmers". Dong ximiao believes that the establishment of two special re loans for scientific and technological innovation and inclusive elderly care will encourage and guide financial institutions to increase directional support for scientific and technological innovation and inclusive elderly care, improve the accuracy and directness of monetary policy, and help improve China's independent innovation ability of science and technology and the supply capacity of elderly care services. In addition, the meeting also pointed out that we should strengthen the implementation of prudent monetary policy and maintain reasonable and sufficient liquidity. We will increase re loans for supporting agriculture and small businesses, make good use of inclusive small and micro loan support tools, use market-oriented and legalized methods to promote financial institutions to reasonably transfer profits to the real economy, and promote the financing increment, expansion and price reduction of small, medium-sized and micro enterprises. We will study and adopt financial measures to support consumption and effective investment, improve the level of financial services for new citizens, optimize affordable housing financial services, ensure the financing needs of key project construction, and promote the rapid growth of medium and long-term loans in the manufacturing industry. We will do a good job in replenishing the capital of small and medium-sized banks with special government bonds, and enhance the credit capacity of banks. (Xinhua News Agency)