China’s PBOC Governor, Finance Minister Vow Support for Economy
- Yi pledges to ‘step up’ policy implementation at G20 event
- Global economic environment is ‘complicated and grave’: Liu
The People's Bank of China (PBOC) building in Beijing.
Source: Bloomberg
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China will push banks to lend more to some sectors and also speed up the rollout of existing economic support policies, the country’s central bank governor and finance minister said.
People’s Bank of China Governor Yi Gang on Thursday reaffirmed a pledge to “step up the implementation of a prudent monetary policy and provide stronger help to the economy,” in a video speech at a meeting of the central bank governors of the Group of 20 countries. Yi also said the PBOC will press banks to increase loans related to infrastructure, manufacturing and property.