China central bank reaffirms neutral monetary policy for 2018
Expanding financial sector’s international influence identified as priority
The People’s Bank of China will maintain a neutral monetary policy this year, a statement released on the bank’s website said, following a working meeting held Monday and Tuesday.
According to changes in the financial system, the bank will maintain “moderate and stable liquidity in the banking system,” the post said.
Officials also cited the need for financial support for the Made in China 2025 strategy, and the Xiongan New Area, which encompasses the cities of Beijing and Tianjin as well as Hebei province.
Innovations in the financial markets should include the standardization of bond market transactions and stronger supervision of corporate credit bonds, the release stressed.
The statement added that opening up the financial sector and expanding its international influence should be a priority along with financial support for the Belt and Road Initiative.