People’s Bank of China says economy improving
The People’s Bank of China (PBOC) says the country is showing economic stability and improvement despite the continuous domestic and global risk.
China’s economic expansion in the first quarter and recent indicators manifest a more balanced economic growth. The PBOC stuck with its previous year’s policy approach but made an effort to curb credit growth in tackling financial risks.
The central bank’s monetary policy committee expressed on Monday its goal for prudent policy and ample liquidity in its bid to step up its coordination with global economic policies.
The PBOC vowed to keep the macro leverage ratio stable and to match the expansion of money supply and aggregate financing in the economy with the nominal GDP growth rate.
It also committed to boost exchange rate flexibility and to keep the yuan stable at a reasonable and equilibrium level.