PBOC Chief Pledges to Keep Growth of Money Supply in Check
- Pan Gongsheng reaffirms prudent policy in People’s Daily
- Comments seen as reflecting a focus on quality of credit
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China’s central bank governor pledged to keep the growth of money supply in check and offer better support to key sectors including technology and advanced manufacturing, illustrating the nation’s focus on enhancing the quality of credit.
Pan Gongsheng reaffirmed that the People’s Bank of China will “control the monetary sluice” in an article in the People’s Daily on Monday that laid out the central bank’s priorities in response to a recent twice-a-decade financial policy meeting. Officials have used the language in the past to underscore the PBOC’s desire to avoid massive easing leading to a rapid buildup of debt.