China’s Central Bank Pledges Support for Domestic Demand
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China’s central bank pledged to support domestic demand and maintain “effective” growth of credit as the economy reopens from Covid restrictions.
Monetary policy “will focus on stabilizing growth, employment and prices, as well as supporting the expansion of domestic demand,” the People’s Bank of China said in a statement on Friday after the quarterly meeting of the monetary policy committee, which was convened by Governor Yi Gang.