男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

PBOC promises sound financial environment

By CHEN JIA | China Daily | Updated: 2020-12-23 09:21
Share
Share - WeChat
A teller explains cash deposit procedures to a customer at a bank in Lianyungang, Jiangsu province. WANG CHUN/FOR CHINA DAILY

Market-oriented reform of interest and exchange rates to deepen next year

China will maintain a prudent monetary policy, which is flexible, precise, reasonable and moderate next year, while providing financial support in key areas and preventing financial risks, according to the People's Bank of China, the central bank.

The country will also improve the mechanism for regulating the money supply and keep the macro leverage ratio basically stable, while properly handling the relationship between economic recovery and risk prevention, the PBOC said.

The central bank statement follows a meeting held on Friday, after the conclusion of the annual Central Economic Work Conference, which outlined the key priorities for next year.

China will deepen the market-oriented reform of interest and exchange rate regimes, and keep the yuan exchange rate generally stable on a reasonable and balanced level, the central bank said.

Financial support for key areas, especially for small and micro enterprises and private businesses, will continue, it said. Policy tools like relending and rediscounting will be used to help financial institutions increase lending for technology innovation, green development and manufacturing.

The PBOC also reiterated its intent to prevent and defuse financial risks, especially for small and medium-sized banks. The macro-prudential policy framework needs to be improved further, while financial technology companies should start following the regulations for the financial sector, it said. "We must firmly oppose monopoly and unfair competition and prevent any disorderly expansion of capital."

The PBOC will hold an annual meeting in due course to factor in the special work requirements for next year, said the central bank.

As China's economic growth recovers, economists expect policymakers to consider a normalization of the policy stance, including the monetary policy. "This shift, however, will not be sharp or abrupt," said Lu Ting, chief economist in China with Nomura Securities.

The annual Central Economic Work Conference, which concluded in Beijing on Friday, had vowed to keep macroeconomic policies consistent, stable and sustainable, while ensuring stable leverage. As far as monetary and credit policies are concerned, the central bank will keep broad money supply, or M2, and aggregate financing growth in line with China's nominal GDP growth.

Lu from Nomura said he expects growth in outstanding aggregate financing to gradually slow from the current 13.6 percent to around 11.5 percent by the end of next year. "We don't expect any rate increases before the end of next year."

Yan Se, a professor at the Guanghua School of Management of Peking University, said liquidity and credit in the second half of next year may be at relatively better levels, while the renminbi still has room to gain by the end of the first quarter of 2021. "Under the moderate monetary policy, it is unlikely that the yields from China's Treasury bonds would be higher than 3.5 percent."

According to the central bank, next year, bond market reforms will get further impetus along with the opening up of the financial sector and the stable, cautious progress in renminbi internationalization.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 罗江县| 新疆| 虎林市| 玛曲县| 饶河县| 津市市| 天祝| 雅安市| 静乐县| 武鸣县| 思茅市| 阿克苏市| 安溪县| 梁山县| 陆良县| 达孜县| 恭城| 门头沟区| 平湖市| 崇文区| 辛集市| 科技| 南投市| 高雄市| 奇台县| 玛沁县| 册亨县| 佛山市| 龙井市| 平原县| 和林格尔县| 宁南县| 襄城县| 石楼县| 神木县| 江门市| 耿马| 仙游县| 阿坝| 蚌埠市| 大兴区|