PBOC: China’s economy is stabilizing and improving

The Chinese economy is showing greater stability and recovery, the People’s Bank of China (PBOC) said in a statement on Monday at the conclusion of its quarterly meeting. 

Key quotes

“The People’s Bank of China will enhance its coordination with global economic policies and prevent “external shocks”.”

China’s prudent monetary policy would be targeted and appropriate, and that the central bank would maintain adequate liquidity.”

“The macro leverage ratio, or total debt as a ratio of GDP, would be kept constant, and vowed to match the expansion of money supply in the economy and aggregate financing with nominal GDP growth.”

“Will promote exchange rate flexibility and keep the yuan stable at an appropriate, equilibrium level.”

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