Dong Ximiao, researcher with the National Institution for Finance and Development

The move can guarantee financial institutions' capital supply, maintain market liquidity before the Spring Festival, promote stable operations of the financial market, and help banks provide financial services around Spring Festival.

Dong said in the new year, monetary policies will continue to strengthen countercyclical adjustment, quicken the process of interest rate marketization, promote transformation of loan pricing benchmarks, and improve allocation efficiency of financial resources.