Central bank sets course for the year ahead
Conference targets nine major tasks, including maintaining stable monetary policy, minimizing financial risks and promoting reform
The People’s Bank of China has proposed nine major tasks for the year ahead during discussions at this week’s work conference, the Securities Daily reported.
The first task is to maintain a stable and neutral monetary policy. By using a variety of monetary policy tools comprehensively, the central bank aims to maintain a reasonable and stable liquidity in the banking system and promote reasonable growth on the scale of monetary credit and social financing.
Secondly, to effectively prevent financial risks, by strengthening macro-prudential management of shadow banking and real estate finance.
Thirdly, to steadily promote financial reforms in key areas, by increasing the market’s role in determining the exchange rate.
The remaining tasks involve the steady promotion of the internationalization of the Chinese yuan, the deep engagement in international financial cooperation and global economic and financial governance, and the further reform of the foreign exchange management system.