SHANGHAI, Oct 21 — People’s Bank of China Governor Pan Gongsheng today outlined the central bank’s priorities for the near future in a work report delivered to China’s...
People's Bank of China Governor Pan Gongsheng attends the International Monetary Finance Committee Plenary during the annual meeting of the International Monetary Fund and the World Bank, following last month's deadly earthquake, in Marrakech October 14, 2023. — Reuters picSHANGHAI, Oct 21 — People’s Bank of China Governor Pan Gongsheng today outlined the central bank’s priorities for the near future in a work report delivered to China’s State Council.
They include guiding financial institutions to cut real lending rates and reduce financing costs for enterprises and individuals, resolving the default risk of bonds of big real estate enterprises, preventing risk contagion in stock, bond and foreign exchange markets, and ensuring the stable operation of financial markets, according to an account published on the official government website.
Other priorities outlined by the governor included making monetary policy more precise and forceful, and enhancing the stability of financial support for the real economy, including by effectively supporting the expansion of domestic demand and implementing policy measures to activate the capital market and boost investor confidence, the report said. — Reuters
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