China’s Central Bank Pledges Steady Growth to Boost Economy
China’s central bank, the People’s Bank of China (PBOC), has announced plans to maintain reasonable growth in financing and money supply to bolster the nation’s economic stability. This commitment comes amid a backdrop of global challenges, including sluggish international growth, rising trade protectionism, and ongoing geopolitical tensions.
In a statement released after its quarterly monetary policy meeting on Friday, the PBOC acknowledged the persistent hurdles facing China’s economy but expressed confidence in the country’s long-term growth prospects. Citing China’s vast market size, comprehensive industrial system, and abundant talent pool, the central bank emphasized the nation’s strengths in navigating uncertain times.
The PBOC stated, "We need to further consolidate the foundation for sustained economic recovery," highlighting the importance of high-quality development to overcome external uncertainties.
The central bank pledged to balance short-term and long-term objectives, aiming to stabilize growth while preventing risks. It plans to enhance the foresight, precision, and effectiveness of macroeconomic policies, expand domestic demand, stabilize market expectations, and invigorate economic activity to reinforce the fundamentals of growth and social stability.
To support these goals, the PBOC is committed to implementing an appropriately accommodative monetary policy and intensifying counter-cyclical adjustments. Efforts to refine the interest rate regulatory framework and reduce banks’ liability costs are aimed at lowering overall financing costs across the economy.
The PBOC also emphasized leveraging monetary tools to direct financial institutions toward supporting critical sectors. These include technological innovation, green initiatives, small and micro businesses, consumption expansion, and trade stability. These measures underscore China’s dual focus on stabilizing financial conditions and addressing structural challenges amid a complex global landscape.
As China continues to navigate global economic uncertainties, the central bank’s proactive stance aims to ensure stable growth and bolster confidence in the nation’s economic trajectory.
