China's Central Bank Ensures Economic Stability

The People's Bank of China aims to adjust monetary policy according to economic conditions for stable growth, maintain a stable yuan, and promote its international use. It will also monitor financial risks and support efforts to address issues in local government financing and the real estate market.

China's central bank has pledged to adapt its monetary policy to respond to changing economic conditions, striving for stable growth. The People's Bank of China (PBOC) announced its commitment to maintaining the yuan exchange rate at a stable and balanced level, alongside promoting its international usage.

The PBOC's strategy follows a meeting aligned with this week's key Communist Party plenum directives. The bank emphasized its vigilance over systemic financial risks and extended support to resolve risks related to local government financing vehicles as well as the real estate market.

These measures, according to the PBOC, are crucial in bolstering economic stability and ensuring China's financial environment remains robust amidst shifting global dynamics.

(With inputs from agencies.)