PBOC Bolsters Policy Guidance with 5 Focuses, Helps Cement Econ Foundation: Pan Gongsheng
The People's Bank of China and the State Administration of Foreign Exchange, convened a news conference this morning to brief on the relevant financial policies cementing the economy.
PBOC deputy governor Pan Gongsheng has seen no change to China's fundamentals of a long-term economic uptrend YTD.
However, he spoke of the new challenges and difficulties arising from a convoluted economic development landscape.
Accordingly, the central bank shall step up policy guidance with a focus on five aspects namely:-
1. Market entity
2. Effective investment
3. Cost reduction
4. Key areas and
5. Opening-up.
It has to reach out to the beleaguered groups and pivotal fields timely and precisely, thus helping to secure the economic foundation, he added.
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Source: AAStocks Financial News