The Chinese Central Bank declared Friday that it will encourage financial institutions to expand the support for consumption and foreign trade in the midst of a prolonged commercial war with the United States.
Beijing has intensified the efforts of this week to amortize the economic damage caused by the tariff conflict with Washington, announcing a series of stimulus measures, including interest rates and a great liquidity injection.
The Chinese Popular Bank will maintain its “adequately free position, flexiblely calibrating the intensity and rhythm of the implementation of policies based on national and global economic conditions and developments of the financial market”, said the central bank in its monetary policy relationship of the first quarter published on Friday.
The central bank will guide financial institutions to increase support for consumption, foreign trade, technological innovation and small businesses, according to the report.
It will also use a combination of economic policy tools, including reserve requirements, ri -programming and open market operations, to maintain wide liquidity and use tools aimed at providing support for low -cost funding for the main consumer sectors.
In addition, the monetary authority has declared that it will issue guidelines for consumer financing, guiding banks to increase services focused on main sectors such as tourism, hotels, entertainment, education and domestic services, while increasing funding for infrastructure and consumer logistics.
Separately, the central bank issued a mechanism of reprogramming of 500 billion iuanes on Friday to take care of the consumption of elderly and service.
Source: Terra
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