PBOC Pledges Stronger Support to Economy Amid Uncertain Recovery
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The People’s Bank of China vowed to step up support for the economy as the recovery is still facing uncertainties, adding that credit growth will be kept “reasonable.”
“The economy is showing a recovering and improving trend, but the foundation of the recovery is not yet solid,” the PBOC said in a statement Friday after its monetary policy committee concluded its quarterly meeting. The meeting was held a week ago and chaired by Governor Yi Gang.