China's central bank pledges more proactive macro policy, ample liquidity
- Country:
- China
China's central bank on Friday said it would implement more proactive macroeconomic policies, keep liquidity ample and guard against systemic risks, a statement on its website accompanying an annual financial stability report showed.
It vowed to "firmly advance financial support for resolving debt risks of financing platforms" and "strengthen macroprudential management of real estate finance," as it works to prevent systemic financial risks in key sectors.
The People's Bank of China would also "promote a reduction in overall social financing costs" and uphold the "decisive role of the market in exchange rate formation," according to the statement.
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