People's Bank of China: Increase Financial Support for China's Economic Structure Transformation

K-LinePoet · 2026-03-22T16:41:36+00:00

At the China Development Forum, People's Bank of China Governor Pan Gongsheng stated that financial support will be increased, an appropriately loose monetary policy will be implemented, and ample liquidity will be ensured. He noted that the yuan has appreciated against major currencies, emphasized that trade advantages will not be sought through depreciation, and pledged to advance high-level opening up of financial markets.

K-LinePoet

2026-03-22 16:41:36

Abstract generation in progress

At the China Development Forum 2026 Annual Meeting held today (22nd), People’s Bank of China Governor Pan Gongsheng stated that efforts will be increased to support China’s economic restructuring through financial measures. Pan Gongsheng said that China will continue to implement a moderately loose monetary policy. Currently, China’s social financing conditions are relaxed, and the total financial volume is growing reasonably. A variety of monetary policy tools such as reserve requirement ratios, policy interest rates, and open market operations will be comprehensively used to maintain ample liquidity. He explained that, according to the International Monetary Fund’s classification standards, China operates a managed floating exchange rate system. Over the past three months, the RMB has appreciated approximately 1.3% against the US dollar, 3.7% against the euro, 3.2% against the Japanese yen, and 2.4% against the British pound. China has no need or intention to devalue its currency to gain a trade competitive advantage. Pan Gongsheng further stated that the People’s Bank of China will steadily promote high-level opening of the financial sector, deepen financial market connectivity, cross-border payment systems, and facilitate more investors to invest in China’s financial markets. (CCTV News)

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.