PBOC reiterates proactive monetary policy stance
3 years, 7 months ago

PBOC reiterates proactive monetary policy stance

China Daily  

A teller helps a client with his deposit business at a bank branch in Nantong, Jiangsu province. Efforts will also be made to continuously improve the market-oriented interest rate system and the monetary policy transformation mechanism along with other steps like optimizing the deposit rate regulations and further lowering the lending rates, the report said. The central bank has said that its interest rate policy framework is undergoing reform, which is aimed at gradually increasing the role of interest rates in financial markets and monetary policy, according to Louis Kuijs, head of Asia Economics at Oxford Economics. Much aggressive fiscal stimulus and stronger economic recovery expectations in the US have resulted in rising inflation expectations and real interest rates, said the PBOC report. Effects from the US bond yield hike and the possible increase in US policy rates will remain limited and controllable in China, said the central bank report, adding that macro-prudential management of cross-border capital flows should be enhanced.

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History of this topic

China eases monetary policy stance, vows more fiscal support
2 weeks, 1 day ago

China eases monetary policy stance, vows more fiscal support

Live Mint  

China’s top leaders plan to loosen monetary policy and expand fiscal spending next year, as Beijing braces for a second trade war when Donald Trump takes office next month. The 24-man Politburo led by President Xi Jinping announced it will embrace a “moderately loose” strategy for monetary policy in 2025, marking its first major shift in stance since 2011. The …

China vows to ramp up moves to spur economic growth in 2025
2 weeks, 1 day ago

China vows to ramp up moves to spur economic growth in 2025

CNN  

China will adopt an “appropriately loose” monetary policy next year, alongside a more proactive fiscal policy to spur economic growth, the Politburo was quoted as saying Monday. “A more proactive fiscal policy and an appropriately loose monetary policy should be implemented, enhancing and refining the policy toolkit, strengthening extraordinary counter-cyclical adjustments,” the readout said. “We think it points to strong …

PBOC pledges more monetary policy support
1 month, 1 week ago

PBOC pledges more monetary policy support

China Daily  

Headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China. China's central bank confirmed on Monday the continuation of its supportive monetary policy stance, a move that analysts said has reinforced expectations of another cut in the reserve requirement ratio to accommodate additional government bond issuance. Feng Jianlin, chief economist at Beijing FOST Economic Consulting …

PBOC pledges more monetary policy support
1 month, 1 week ago

PBOC pledges more monetary policy support

China Daily  

China's central bank confirmed on Monday the continuation of its supportive monetary policy stance, a move that analysts said has reinforced expectations of another cut in the reserve requirement ratio to accommodate additional government bond issuance. Feng Jianlin, chief economist at Beijing FOST Economic Consulting Co, said the central bank may soon coordinate with the 2 trillion yuan in bond …

Proactive policy helps address price weakness
1 month, 1 week ago

Proactive policy helps address price weakness

China Daily  

The skyline of Beijing. In the third quarter, China's real GDP growth was 4.6 percent year-on-year, with final consumption expenditure, gross capital formation and net exports of goods and services contributing 1.35, 1.28 and 1.97 percentage points, respectively. On the one hand, real estate development investment is an important component of domestic demand, and the cumulative year-on-year growth rate of …

China's central bank unveils most aggressive stimulus since pandemic
2 months, 4 weeks ago

China's central bank unveils most aggressive stimulus since pandemic

Hindustan Times  

* China's central bank unveils most aggressive stimulus since pandemic PBOC to cut rates, RRR and provide more property market support * China facing deflationary pressures, growth target at risk * Analysts say more fiscal stimulus needed to restore confidence By Ryan Woo and Liangping Gao BEIJING, Sept 24 - China's central bank on Tuesday unveiled its biggest stimulus since …

Experts urge policy steps to help recovery
3 months, 2 weeks ago

Experts urge policy steps to help recovery

China Daily  

A cashier counts RMB notes in a bank in Haian, Jiangsu province. During a news conference on Thursday, Zou Lan, head of the monetary policy department of the People's Bank of China, the country's central bank, said that the current average RRR of financial institutions — the proportion of deposits they must keep as reserves — is about 7 percent, …

PBOC hints at further cuts in the reserve requirement ratio
3 months, 2 weeks ago

PBOC hints at further cuts in the reserve requirement ratio

China Daily  

The financial district of Pudong New Area. China will intensify counter-cyclical monetary measures at the aggregate level, central bank officials said on Thursday, implying room for further reductions in the reserve requirement ratio. Zou Lan, head of the Monetary Policy Department of the People's Bank of China, the country's central bank, said that the current average RRR of financial institutions …

Robust policy steps urged to boost economy
3 months, 3 weeks ago

Robust policy steps urged to boost economy

China Daily  

The Inner Street Culture Creative Park is bustling with activity during the night market in Qingxiu district, Nanning, Guangxi Zhuang autonomous region, on April 16, 2024. China should further bolster its economy by stepping up fiscal and monetary policy support, including raising the budget deficit and effecting more cuts in the reserve requirement ratio and interest rates, said economists and …

PBOC may up bond trading
7 months, 4 weeks ago

PBOC may up bond trading

China Daily  

A pedestrian walks past the headquarters of the PBOC in Beijing. JIANG QIMING/CHINA NEWS SERVICE China's central bank will likely increase the trading of government bonds as a liquidity management tool, yet such a move should not be misunderstood as quantitative easing, officials and experts said. Financial News, a newspaper backed by the People's Bank of China, the country's central …

China's economic recovery gets off to a great start this year
8 months ago

China's economic recovery gets off to a great start this year

China Daily  

A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. China's economic recovery has gotten off to a good start this year, laying a solid foundation for achieving annual economic targets, said Pan Gongsheng, governor of the People's Bank of China, the country's central bank. Addressing the 49th meeting of the International …

China's central bank to enhance implementation of monetary policies
8 months, 3 weeks ago

China's central bank to enhance implementation of monetary policies

China Daily  

Headquarters of the People's Bank of China, the central bank, is pictured in Beijing. BEIJING -- China's central bank on Wednesday pledged efforts to enhance the implementation of a slew of monetary policies -- in order to effectively stimulate the economy. The bank will appropriately increase the relending and rediscount quota for small enterprises and the agriculture sector, make good …

Bond comments by China’s Xi hint at possible expansion of PBOC toolkit
8 months, 3 weeks ago

Bond comments by China’s Xi hint at possible expansion of PBOC toolkit

Live Mint  

A months-old speech by China’s top leader has stoked speculation around aggressive liquidity boosts from Beijing. While economists have generally shrugged off such a possibility, some say that more trading of treasury bonds could bring the country’s central bank more in line with practices adopted by peers in developed markets. Economists say U.S.-style “quantitative easing," in which a central bank …

PBOC sets goals to support economic growth, development
11 months, 2 weeks ago

PBOC sets goals to support economic growth, development

China Daily  

Headquarters of the People's Bank of China, the central bank, is pictured in Beijing. China's central bank will work to sustain buoyant financing activity while expanding financial opening-up this year as part of its efforts to effectively support economic growth and high-quality development. The People's Bank of China, the country's central bank, said on Friday that it will focus on …

PBOC to maintain reasonable, ample liquidity
1 year, 4 months ago

PBOC to maintain reasonable, ample liquidity

China Daily  

A pedestrian walks past the headquarters of the PBOC in Beijing. JIANG QIMING/CHINA NEWS SERVICE China's central bank said on Thursday it will comprehensively utilize various monetary policy tools, maintain reasonable and ample liquidity and ensure moderate and steady growth of money supply and credit. And it will also flexibly conduct open market operations, keep liquidity in the banking system …

2023 policy focused on solid recovery
2 years ago

2023 policy focused on solid recovery

China Daily  

Containers are unloaded at Qingdao Port in Shandong province in March. Key Party meeting maps direction, major tasks for development next year Reviving the COVID-19-battered economy will be a key policy priority for China next year as the top leadership has sent a strong signal to push overall improvement of economic activity and substantially expand domestic demand, economists said on …

2023 policy focused on solid recovery
2 years ago

2023 policy focused on solid recovery

China Daily  

Containers are unloaded at Qingdao Port in Shandong province in March. Key Party meeting maps direction, major tasks for development next year Reviving the COVID-19-battered economy will be a key policy priority for China next year as the top leadership has sent a strong signal to push overall improvement of economic activity and substantially expand domestic demand, economists said on …

专家解读央行超预期降息的考量
2 years, 4 months ago

专家解读央行超预期降息的考量

China Daily  

中国人民银行开展4000亿元中期借贷便利（MLF）操作，20亿元7天公开市场逆回购操作，中标利率均下降10个基点，分别是2.75%和2%。本次央行降息超出市场预期。央行发布二季度货币政策执行报告，强化了对“不搞大水漫灌”的关注。市场预期流动性仍将保持宽松。央行在当前时点降息10个基点，笔者理解主要有以下三个原因。 A clerk counts cash at a bank in Haian, East China's Jiangsu province, in July. The People's Bank of China, the country's central bank, recently lowered the rate on 400 billion yuan of one-year medium-term lending facility loans to some financial institutions by 10 basis points to 2.75 percent. Therefore, we may interpret the exchange rate to be "adhering …

专家解读央行超预期降息的考量
2 years, 4 months ago

专家解读央行超预期降息的考量

China Daily  

中国人民银行开展4000亿元中期借贷便利（MLF）操作，20亿元7天公开市场逆回购操作，中标利率均下降10个基点，分别是2.75%和2%。本次央行降息超出市场预期。央行发布二季度货币政策执行报告，强化了对“不搞大水漫灌”的关注。市场预期流动性仍将保持宽松。央行在当前时点降息10个基点，笔者理解主要有以下三个原因。 A clerk counts cash at a bank in Haian, East China's Jiangsu province, in July. The People's Bank of China, the country's central bank, recently lowered the rate on 400 billion yuan of one-year medium-term lending facility loans to some financial institutions by 10 basis points to 2.75 percent. Therefore, we may interpret the exchange rate to be "adhering …

PBOC steps up support for real economy
2 years, 7 months ago

PBOC steps up support for real economy

China Daily  

China is expected to deepen deposit rate reforms to lower corporate financing costs as part of the central bank's well-calibrated efforts to strike a balance between stabilizing economic growth and sheltering from the risk of capital outflows, economic experts said on Tuesday. They gave the remarks after the People's Bank of China, the country's central bank, said it had guided …

PBOC steps up support for real economy
2 years, 7 months ago

PBOC steps up support for real economy

China Daily  

China is expected to deepen deposit rate reforms to lower corporate financing costs as part of the central bank's well-calibrated efforts to strike a balance between stabilizing economic growth and sheltering from the risk of capital outflows, economic experts said on Tuesday. They gave the remarks after the People's Bank of China, the country's central bank, said it had guided …

PBOC steps up support for real economy
2 years, 7 months ago

PBOC steps up support for real economy

China Daily  

China is expected to deepen deposit rate reforms to lower corporate financing costs as part of the central bank's well-calibrated efforts to strike a balance between stabilizing economic growth and sheltering from the risk of capital outflows, economic experts said on Tuesday. They gave the remarks after the People's Bank of China, the country's central bank, said it had guided …

China's central bank acts to bolster real economy
3 years ago

China's central bank acts to bolster real economy

China Daily  

The People's Bank of China in Beijing. Reserve requirement ratio cut aims to sustain recovery of growth, premier says The amount of cash financial institutions must hold in reserve will be cut from Dec 15 to inject more liquidity into the market, China's central bank announced on Monday. The RRR cut is expected to free up about 1.2 trillion yuan …

PBOC may have to juice China’s economy as ‘stagflation’ risk rises
3 years, 1 month ago

PBOC may have to juice China’s economy as ‘stagflation’ risk rises

CNN  

Hong Kong CNN Business — A Chinese central official has warned that stagflation could weigh on an already struggling economy next year. Liu Shijin, a member of the People’s Bank of China’s monetary policy committee, told an online forum on Sunday that the world’s second largest economy may have to deal with “quasi-stagflation” the rest of this year and into …

PBOC to cut reserve ratio, add liquidity
3 years, 5 months ago

PBOC to cut reserve ratio, add liquidity

China Daily  

The People's Bank of China in Beijing. China's central bank announced on Friday it would reduce the cash financial institutions are required to keep in reserve and release about 1 trillion yuan of liquidity effective on Thursday, an expected measure undertaken to better support the real economy and keep corporate financing costs at a low level. The People's Bank of …

PBOC to cut reserve ratio, add liquidity
3 years, 5 months ago

PBOC to cut reserve ratio, add liquidity

China Daily  

The People's Bank of China in Beijing. China's central bank announced on Friday it would reduce the cash financial institutions are required to keep in reserve and release about 1 trillion yuan of liquidity effective on Thursday, an expected measure undertaken to better support the real economy and keep corporate financing costs at a low level. The People's Bank of …

Central bank pledges flexible, precise implementation of monetary policy
3 years, 5 months ago

Central bank pledges flexible, precise implementation of monetary policy

China Daily  

China will implement its monetary policy in a flexible and precise way and strike a balance between economic recovery and risk prevention, the central bank has said. In a statement released after a quarterly meeting of its monetary policy committee, the People's Bank of China has pledged efforts to keep the economy running within an appropriate range and ensure that …

Central bank vows to keep monetary policy consistent
3 years, 11 months ago

Central bank vows to keep monetary policy consistent

China Daily  

The People's Bank of China. China's central bank is expected to keep its monetary policy consistent and supportive of economic recovery, taking advantage of various tools to sustain adequate liquidity and avoid premature tightening, experts said on Wednesday. The meeting, held by the PBOC's monetary policy committee and chaired by Yi Gang, the central bank governor, also urged further strengthening …

PBOC promises sound financial environment
4 years ago

PBOC promises sound financial environment

China Daily  

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 …

China to stay on 'normal' policy path
4 years ago

China to stay on 'normal' policy path

China Daily  

The People's Bank of China. PBOC report: Interest rates to be kept at low levels to support small firms China will maintain a normal monetary policy for as long as possible and keep interest rates at a relatively low level to support small business financing and maintain ample liquidity in the system, the People's Bank of China, the central bank, …

Prudent monetary policy to be more flexible, targeted
4 years ago

Prudent monetary policy to be more flexible, targeted

China Daily  

China's central bank on Nov 26 pledged to make its prudent monetary policy more targeted and flexible to adapt better to the needs of high-quality development and put more focus on the efficiency of financial services to support the real economy. More efforts will go into improving the money supply regulation mechanism to maintain reasonable and sufficient liquidity, the People's …

Nation shifts to targeted monetary policy
4 years, 4 months ago

Nation shifts to targeted monetary policy

China Daily  

China has suspended its large-scale monetary easing, as the economy is recovering, and shifted to innovative monetary measures to channel funds into weak sectors in a more targeted way, while guarding against financial risks, policy analysts said on Aug 18. The monetary authorities will prefer "structural monetary policy tools", as the central bank calls them, to address financial strains in …

More flexible monetary policies next
4 years, 4 months ago

More flexible monetary policies next

China Daily  

A bank staff counts RMB and US dollar notes in a bank in Nantong, Jiangsu province on Aug 6, 2019. Measures to ease financial burden of small companies and prevent risks Monetary authorities may come out with more flexible policies and facilitate the risk prevention mechanism during the second half of this year to ease the financial burden of small …

China's central bank pledges continued opening-up of financial industry
4 years, 4 months ago

China's central bank pledges continued opening-up of financial industry

China Daily  

The People's Bank of China, the central bank, said on Aug 3 that it will resolutely push forward the opening-up of the country's financial industry in a sound and orderly manner. It will promote a full implementation of the foreign investment administration model of pre-establishment national treatment plus negative list, advance the internationalization of the renminbi and capital account convertibility …

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