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File photo of China's central bank governor Pan Gongsheng. /CFP
Growth rates of both manufacturing and service sectors have picked up in China, with market sales recovery accelerating, and investments in fixed assets and high-tech industries growing rapidly, noted Pan Gongsheng, governor of the People's Bank of China (PBOC), during the 48th meeting of the International Monetary and Financial Committee meeting held in Marrakech, Morocco from Thursday to Friday.
Pan emphasized that China's monetary policy is prudent and effective, with increased counter-cyclical adjustment efforts that have effectively addressed domestic and international risks and challenges, consolidating the trend of economic recovery and improvement.
Pan said, moving forward, China will better utilize the dual functions of monetary policy tools in terms of aggregate and structure, focusing on expanding domestic demand, boosting confidence, and facilitating a virtuous economic cycle to provide stronger support to the real economy.
The central bank governor stressed that China has always held that the quota reform of the International Monetary Fund (IMF) should involve both quota increases and realignment to better reflect the relative positions of member countries in the global economy.
Pan added that this would strengthen the voice and representation of emerging markets and developing countries.
China calls on the IMF to continue advocating for the swift removal of man-made restrictions on trade, investment and supply, to promote global governance with greater fairness and equity, as stated by Pan, the central bank governor.
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466