The People’s Bank of China announced to sustain a neutral monetary policy for this year with a steadfast liquidity in the market. The Asian nation will also improve their macro-prudential management in relation to shadow banking and real estate industry, according to the website after the conference has ended. At the same time, the PBOC intends to improve their online financial regulation for long-term, which is their primary goal for the year. Moreover, this would also minimize potential risks in the market. The central bank will also completely utilize various monetary policy tools to maximize growth in credit and social spending. At the same time, the regulator will heavily work on the market-based interest rate reforms and inhibit systemic financial risks and maintain the stable position of yuan in the market this year. In the previous month, the Vice-governor of the central bank, Yi Gang, said that the macro-prudential policy framework will be amended and look for processes including shadow banking, real estate financing, and internet funding. Chinese government faces a “deleveraging” campaign for the second year moving towards the reduction of financial risks amid a fast accumulation of debt and riskier assets. Meanwhile, policymakers are trying to control and refrain from a sudden impact on the economy.
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