In a recent statement, the Deputy Governor of the People’s Bank of China articulated the central bank‘s commitment to balancing short-term objectives with long-term goals, ensuring stable growth while mitigating risks, and maintaining internal and external equilibrium.
Among the key initiatives highlighted:
Accelerating the implementation and efficacy of the relending facility to foster innovation in science and technology.
Promoting facilitation of trade and investment.
Supporting the development of the offshore Yuan market.
Facilitating first-time loans and equipment upgrades for small- and medium-sized technology firms in crucial sectors.
Establishing and enhancing financial infrastructure, including bolstering the service capacity of the Yuan cross-border interbank payment system.
Strengthening supervision of cross-border Yuan transactions.
Enhancing transparency, adherence to rules, and predictability in financial markets, while augmenting liquidity in Yuan financial assets.
Supporting foreign central banks, international development institutions, and multinational enterprises in issuing Panda bonds in China.
These initiatives underscore the People’s Bank of China’s multifaceted approach to fostering economic resilience and sustainable growth amidst evolving domestic and global dynamics.
