People’s Bank of China pledges measures to augment upturn in 2023

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The Chinese government will implement its monetary policy in a focused manner and ramp up financial support to domestic supply and demand to accelerate economic recovery this year, according to the country’s central bank. It will work to reduce financing costs for market entities and help expand consumption, the People’s Bank of China recently said.

On top of maintaining sufficient liquidity through a combination of multiple policy tools, the bank said it will work to reduce financing costs for market entities and help expand consumption, a statement released after a work meeting for this year said.

The Chinese government will implement its monetary policy in a focused manner and ramp up financial support to domestic supply and demand to accelerate economic recovery this year, according to the country’s central bank. It will work to reduce financing costs for market entities and help expand consumption, the People’s Bank of China recently said.

The meeting also stressed renewed efforts on promoting financial opening and global cooperation, with an emphasis on the institutional opening of rules, protocols, standards and more. The global use of the Chinese yuan will be advanced in an orderly manner, the central bank was quoted as saying by a state-controlled news agency.

The bank will prioritise efforts to help foster an overall economic upturn, defuse major financial risks and deepen financial reforms and opening this year.

Fibre2Fashion News Desk (DS)


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