PBOC Governor Pan: China's 5% growth target expected to be successfully achieved
|Pan Gongsheng, Governor of the People's Bank of China (PBOC), said in a statement on Wednesday, “China's economy continues to improve, 5% growth target is expected to be successfully achieved.”
Additional quotes
Shifting economic growth model is more important than pursuing high growth rate - securities times.
China's economic growth momentum improves recently, production and consumption recover steadily, employment and consumer prices stable.
Monetary policy will pay more attention to cross-cyclical and counter-cyclical adjustments in next stage.
Will always keep prudent monetary policy, support stable growth of real economy.
Will provide a good monetary and financial environment to stabilize price, promote economic growth and expand employment.
Spillover effect of property market adjustments on the financial system are generally manageable.
Will guide financial institutions to keep stable financing channels open through property credit, bonds.
Some provinces are making plans to resolve risks of small and mid-sized banks.
Supports LGFVs to become market-oriented firms which do not rely on govt credit, and are financially independent and sustainable.
The central bank will provide emerging liquidity support to areas with relatively high debt burdens when necessary.
Will strictly control new govt-invested projects in areas with high debt burdens.
Will resolutely guard against overshooting risks of Yuan exchange rate.
Related reads
-
AUD/USD moves downward after RBA dovish statement, trades lower around 0.6420
-
IMF raises China’s 2023 and 2024 growth forecasts
(This story was corrected on November 8 at 08:00 GMT to say that the PBoC Governor is Pan Gongsheng, not Yi Gang.)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.