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Copyright © 2024 CGTN. 京ICP备20000184号
Disinformation report hotline: 010-85061466
China's central bank has vowed to intensify the implementation of the monetary policies that have been introduced, according to a statement by the People's Bank of China's (PBOC) monetary policy committee (MPC) on Wednesday.
At a meeting held last week, the PBOC's MPC – a vital body in the making and adjustment of China's monetary policy – underlined the importance of keeping liquidity adequate and at a reasonable level, guiding rational growth and balancing the extension of credit.
PBOC will also stabilize and bring down the financing costs for businesses and the credit costs for individuals, said the statement.
A view of the People's Bank of China (PBOC) headquarters in Beijing, China, September 7, 2023. /CFP
The PBOC will guard against the risk of exchange-rate overshooting, so as to prevent the formation of unilateral consensus expectations and their self-reinforcement, and to keep the Chinese renminbi exchange rate basically stable at a reasonable and balanced level.
Meanwhile, the central bank will also make significant efforts in the areas of sci-tech finance, green finance, inclusive finance, pension finance and digital finance, and accelerate the development of "new quality productive forces."