[The People's Bank of China Proposes Improving the Market-Based Interest Rate Transmission Mechanism] The People's Bank of China held a meeting to study the next phase of monetary policy approaches, proposing the comprehensive use of various tools to strengthen regulation, enhance the guidance of central bank policy rates, improve the market-based interest rate formation and transmission mechanism, focus on changes in long-term yields, smooth the monetary policy transmission mechanism, and improve the efficiency of capital utilization. At the same time, it aims to enhance the resilience of the foreign exchange market, stabilize market expectations, prevent excessive exchange rate adjustments, and maintain the basic stability of the RMB exchange rate.