To support growth, China’s central bank promises to take action in 2023
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According to the country’s central bank, China would conduct its cautious monetary policy in a focused and effective manner and increase financial support for domestic supply and demand to boost economic recovery in 2023.
It will implement the fiscal policies introduced in November to support the steady and healthy growth of the real estate sector.
According to a statement released after a working meeting for the coming year, the People’s Bank of China said it will seek to reduce financing costs for market participants and support rising consumption, in addition to maintaining sufficient liquidity through a mix of policies .
China will conduct its cautious monetary policy in a focused and effective manner.
The meeting also emphasized a renewed focus on promoting financial openness and international cooperation, with particular emphasis on institutional openness of norms, procedures, standards and more. According to the central bank, the use of the Chinese yuan will steadily spread around the world.
The central bank will focus its efforts in 2023 on defusing significant financial risks, fostering an overall economic recovery, and deepening financial reforms and liberalization.
According to the central bank, the nation will continue to test its fiat digital currency while increasing its day-to-day control over platform companies’ financial operations.
Summary of the news:
To support growth, China’s central bank promises to take action in 2023. Check all the news and articles from the latest business news updates.