China’s central bank said Thursday it will step up macroeconomic policy adjustments to support the economy and promote a price recovery.
The People’s Bank of China will maintain reasonably ample liquidity and drive reasonable credit growth, it said in a statement following a quarterly meeting of its monetary policy committee.
The central bank also committed to intensifying the implementation of the defined monetary policy.
In recent months, the government has announced a series of measures to support China’s weak post-pandemic economic recovery, which is hampered by a slumping property market, local government debt risks and slow global growth.
China will promote the stable and healthy development of the real estate market by meeting the reasonable financing needs of real estate enterprises under different owners, the central bank said.
The bank added that it will also increase financial support to key companies and groups to stabilize and expand jobs, as well as stimulate and encourage more private investment.
China will ensure the stability of the yuan and resolutely guard against the risk of an excessive exchange rate, the central bank said.
Source: Terra
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