A moderately loose monetary policy should be well implemented to provide stronger support for expanding domestic demand, developing new quality productive forces and promoting economic transformation and upgrading, a senior Chinese official said on Friday.

He Lifeng, director of the office of the Central Financial Commission and secretary of the Central Financial Work Commission, made the remarks while attending a national work conference for the financial system, which took place on Friday.

Efforts should be made to effectively prevent and defuse financial risks in key areas and external shocks in an orderly manner, promote the steady and healthy development of the capital market and other areas, and firmly guard against the occurrence of systemic risks, He said.

He noted that it is necessary to strengthen financial supervision, continuously improve the quality and effectiveness of finance serving the real economy, and effectively alleviate small and micro enterprises' problems in accessibility, cost and efficiency when obtaining financing.

Work needs to be done to promote the expansion and efficiency of "white list" projects and consolidate the momentum to stabilize the property market and reverse its downturn.

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