With price stability as the top priority, China will maintain its stable monetary policy and offer more support to small businesses and vulnerable groups hit by the COVID-19, Yi Gang, head of the country’s central bank, said in a video speech on Friday at the Boao Forum for Asia.
The geopolitical tension has intensified global inflation pressure, he said, noting being prepared for different challenges, China has stepped up support for the real economy with stable monetary policies. “We also stand ready to support small and medium-sized enterprises with more instruments,” said the governor of the People’s Bank of China (PBOC). He also cited recent measures launched by the central bank, including transferring profits to the central government and 23 new measures designed to support entities affected by the COVID-19. – CGTN
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