Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Finance

    No major stimulus in the pipeline

    By Wang Yanfei | China Daily | Updated: 2019-01-16 09:05
    Share
    Share - WeChat
    A bank employee counts cash in Taiyuan, capital of Shanxi province. [Photo by Zhang Yun/China News Service]

    Govt will make dynamic assessment of monetary policy, says senior official

    China plans to roll out more measures to stabilize growth amid downward pressure but will not resort to a massive stimulus package, according to senior officials with the nation's top financial regulators.

    Zhu Hexin, deputy governor of the People's Bank of China, the central bank, said the government will make a dynamic assessment of the current monetary policy, while making good use of existing tools to channel funds to the non-financial sector.

    "Maintaining a prudent monetary policy does not mean there will be no changes. We will make the policy more forward-looking, flexible and targeted in response to changes," he said, fending off the likelihood of adopting stimulus measures in response to concerns about whether the central bank intends to cut the benchmark interest rates.

    The PBOC has cut the amount of money banks have to hold as reserves five times in a year, but has yet to cut the benchmark interest rates. The benchmark interest rate in China was last recorded at 4.35 percent. It was last cut by 25 basis points in October 2015.

    While keeping the benchmark rate unchanged, the bank has introduced new tools to pump money into the economy, such as the medium-term lending facility.

    China has injected 16.17 trillion yuan ($2.39 trillion) in new yuan loans in the past year to stabilize growth. There is room to improve the monetary transmission mechanism to spur lending to smaller firms, Zhu said.

    Some large commercial banks have lowered rates in particular to support funding for small and medium-sized enterprises. Rates for SME borrowers have been reduced from around 7 percent in the first half in 2018 to 5.8 percent at the year end, according to a manager with China Construction Bank.

    In the meantime, other supportive measures to bolster growth are expected to come out soon, including efforts to streamline procedures for bond issuance and tax cut measures.

    The Ministry of Finance will make more efforts to promote fiscal policy on cutting taxes and fees, according to Xu Hongcai, assistant minister of finance. Local government special bond issuance is expected to finish by the end of September, he said.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    中文无码久久精品| 久久久久亚洲AV无码网站| 国产免费无码AV片在线观看不卡 | 亚洲中文字幕不卡无码| 日韩中文字幕免费视频| 88久久精品无码一区二区毛片| 日本无码色情三级播放| 99精品久久久久中文字幕| 日韩av片无码一区二区三区不卡| 亚洲国产精品无码久久SM| 最近中文字幕免费mv在线视频| 无码日韩人妻AV一区二区三区 | 无码精品人妻一区二区三区中 | 亚洲av无码国产精品色午夜字幕 | 久久久无码精品亚洲日韩京东传媒| 国产 亚洲 中文在线 字幕| 久久久久久久人妻无码中文字幕爆| 亚洲国产精品无码久久一区二区| 中文字幕毛片| 中文字幕精品亚洲无线码一区应用| 在线天堂中文WWW官网| 亚洲精品无码专区在线播放| 九九久久精品无码专区| 国产热の有码热の无码视频 | 中文字幕在线观看有码| 播放亚洲男人永久无码天堂| 无码人妻精品一区二区三区东京热| 岛国无码av不卡一区二区| 蜜桃臀AV高潮无码| 中文午夜乱理片无码| 亚洲日韩精品无码专区网址| 亚洲第一极品精品无码久久| 亚洲国产精品无码专区影院| 亚洲AV无码久久精品狠狠爱浪潮| 中文字幕无码无码专区| 亚洲国产精品无码久久久不卡| 无码人妻久久久一区二区三区| 国产精品VA在线观看无码不卡| 国产精品久久久久无码av| 四虎成人精品国产永久免费无码| 亚洲成av人片不卡无码久久|