China's monetary policy needs to focus on supporting economic growth in a targeted way, the People's Bank of China (PBOC) Governor Yi Gang said over the weekend, adding that it should also help minimize the financial risks at the same time.
Key quotes
"Monetary policy needs to strike a balance between supporting economic growth and preventing risks.”
"China's macro leverage ratio is basically stable. We should provide positive incentives for economic entities and restrain the breeding and accumulation of financial risks."
“China's monetary policy should focus on targeted support for key areas and weak links in the economy.”
"China's monetary policy is in a normal range and has room to provide liquidity and appropriate interest rate levels.”
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