China's central bank pledges more proactive macro policy, ample liquidity

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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