久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

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

PBOC readies tools to shore up growth

By CHEN JIA | China Daily | Updated: 2020-07-31 07:05
Share
Share - WeChat
A pedestrian passes by the headquarters of the People's Bank of China in Beijing. [Photo/CHINA NEWS SERVICE]

Targeted easing rather than stimulus to be the top priority of central bank

Central banks of the two largest economies in the world may adopt different strategies to sustain growth in the ensuing months, with China likely to see a pause in further monetary easing, while the United States may bank on more stimulus to sustain the momentum, experts said.

Unlike the aggressive policy measures adopted by the US Federal Reserve, the People's Bank of China, the central bank, has been more cautious. The PBOC is likely to use conventional tools, especially through open market operations and the medium-term lending facility, to sustain economic recovery and support lending to households and businesses.

The US Fed, on the other hand, has decided to maintain interest rates close to zero after a two-day meeting on Wednesday. It committed to using its "full range of tools" to support the US economy in the challenging times, as the COVID-19 crisis poses considerable risks to the economic outlook over the medium term.

The US Fed plans to continue or even intensify the ongoing quantitative easing, by purchasing government bonds and residential, commercial mortgage-backed securities over the coming months, to sustain smooth market functioning, according to a statement from its Federal Open Market Committee.

"The FOMC will most likely keep rates close to zero well into 2022.The unsteady US economic rebound brought up by the Fed Chair Jerome Powell in the statement is more troubling and market participants should keep a closer eye on this development," said David Chao, global market strategist for APAC (except Japan) at Invesco, a US-based asset manager.

The extremely loose monetary policy implemented by the Fed has not really helped the US economic recovery. Instead, what it has done is to ensure liquidity in the financial system and companies can access sufficient funds to avoid bankruptcy, said Chao.

"What we see from the PBOC is a pause in further loosening of the monetary policy, as indicated by the interest rate cut stoppages, since the economy has seen a strong recovery and the equity market has performed relatively well," he said.

Chinese policymakers have recently reiterated their intention to effectively transmit the monetary policy and guide down the real lending rates for the corporate sector.

"The policy signals are clear in that lowering the funding costs for corporates is the top priority for the second half of this year," Zhu Haibin, JPMorgan chief China economist, told China Daily.

"Monetary easing will be targeted to avoid the risk of spillover to undesirable sectors or generation of financial excesses. This has been illustrated in the monetary policy operations in the first six months, via targeted RRR cuts, re-lending and rediscount facilities to support targeted sectors such as the small and medium-sized enterprises," said Zhu.

Wang Xin, head of the PBOC's research bureau, said long-term loans for the corporate sector have enough room for growth, and the policy should satisfy credit demand, especially for smaller and private businesses.

In order to maintain ample liquidity, the PBOC conducted reverse repurchase operations on Thursday, and injected 50 billion yuan ($7.14 billion) into the banking system, at an interest rate of 2.2 percent.

The PBOC collected back liquidity of 687.7 trillion yuan for the whole month, Bloomberg said, sending a signal that the monetary policy is gradually returning to normal, said analysts.

Macroeconomic indicators suggest that China may continue to implement a relatively loose monetary policy, but tighter regulations and macroprudential policies are needed to address financial arbitrage risks, especially when interbank borrowing costs decline, according to Liu Ligang, managing director and chief China economist at Citigroup.

"As China's interest rates are relatively higher than those of other major economies in the world, there is still room for the PBOC to cut interest rates, if necessary," Liu said.

Jiang Xueqing contributed to this story.

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
 
久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

    caopor在线视频| 欧美 日韩 国产精品| 老汉色影院首页| 亚洲综合在线网站| 欧美激情亚洲天堂| 日本高清久久久| 欧美亚洲国产成人| 国产在线无码精品| 午夜宅男在线视频| 大j8黑人w巨大888a片| 桥本有菜av在线| 99视频在线视频| 91九色在线观看视频| 7777在线视频| 免费成人黄色大片| 国产精品视频一区二区三区四区五区| 欧美精品一区二区性色a+v| 国产三级国产精品国产专区50| 18岁网站在线观看| 精品少妇人欧美激情在线观看| 婷婷视频在线播放| 日韩在线一区视频| 激情网站五月天| www.99热这里只有精品| 国产一级黄色录像片| 中文字幕线观看| 日本在线观看免费视频| 激情五月开心婷婷| 国产在线青青草| 男人天堂1024| 国产深夜男女无套内射| 国产精品无码免费专区午夜| 91免费网站视频| 波多野结衣在线免费观看| 爱爱爱爱免费视频| 欧美婷婷精品激情| 无码人妻精品一区二区三区66| 亚洲国产精品久久久久婷蜜芽| 黄网站欧美内射| 精品少妇一区二区三区在线| 男人日女人视频网站| 久久这里只有精品23| 91午夜在线观看| 免费在线观看视频a| 国产精品第157页| 国产一级做a爰片久久毛片男| 国产免费内射又粗又爽密桃视频| 三级在线免费观看| 国产一级大片免费看| 91传媒免费视频| 99色这里只有精品| 少妇人妻大乳在线视频| 日日橹狠狠爱欧美超碰| 久久国产亚洲精品无码| 热久久精品国产| 手机视频在线观看| 伊人五月天婷婷| 中国一级黄色录像| 97中文字幕在线| www一区二区www免费| 午夜视频在线瓜伦| 熟妇人妻无乱码中文字幕真矢织江 | 亚洲污视频在线观看| 亚洲黄色小视频在线观看| 午夜啪啪小视频| 欧美日韩午夜爽爽| 青娱乐自拍偷拍| 青青在线视频观看| 亚洲欧美自拍另类日韩| 日韩欧美理论片| 美女在线免费视频| 777精品久无码人妻蜜桃| 色婷婷综合久久久久中文字幕| av网站在线不卡| 中文字幕第一页亚洲| 日本wwwcom| 无码人妻丰满熟妇区毛片18| 亚洲国产日韩欧美在线观看| 日本丰满大乳奶| 国产黄页在线观看| 999精品视频在线| 日韩视频在线观看视频| 亚洲美免无码中文字幕在线 | 91大学生片黄在线观看| 激情五月宗合网| 亚洲一二三区av| 懂色av粉嫩av蜜臀av| 91猫先生在线| 色www免费视频| 国产成人亚洲综合无码| 99精品视频在线看| 奇米777在线| 你懂的av在线| 手机免费看av网站| 国产二区视频在线| 最新天堂中文在线| 日韩xxxx视频| 天天干天天玩天天操| 国产欧美日韩网站| 成年人三级黄色片| 日韩精品综合在线| 久久6免费视频| 欧美变态另类刺激| 超碰成人在线免费观看| 日本韩国欧美在线观看| 韩国一区二区在线播放| 久久久免费视频网站| 91香蕉视频免费看| 亚洲熟妇av一区二区三区| 国产人妻人伦精品| 欧美三级午夜理伦三级富婆| 老太脱裤让老头玩ⅹxxxx| 日本超碰在线观看| 美女av免费在线观看| 欧美少妇一级片| 高清一区二区视频| 国产青青在线视频| 成人高清dvd| 久久久久久久久久一区| 黄色片久久久久| 91免费黄视频| 女同性恋一区二区| 欧美在线aaa| 北条麻妃在线观看| 国产精品一线二线三线| 久久久久亚洲av无码专区喷水| 欧美日韩在线成人| 久久久久久久久久久视频| 老司机激情视频| 99精品视频国产| 日韩福利视频在线| 97国产精东麻豆人妻电影| 97中文字幕在线| 激情五月五月婷婷| 97超碰人人看| 一二三av在线| 在线观看免费的av| 欧美精品无码一区二区三区| 国产精品999视频| 久久99久久久久久| 国产女教师bbwbbwbbw| 樱花草www在线| 久久久精品高清| 欧美成人黄色网址| 无码人妻精品一区二区三区66| 欧美 国产 日本| 欧美成人三级在线视频| 欧美狂野激情性xxxx在线观| 影音先锋成人资源网站| 在线观看视频黄色| 久久精品一二三四| 午夜免费一级片| 色黄视频免费看| 亚洲一级片免费观看| 91欧美一区二区三区| 亚洲精品国产久| 先锋影音男人资源| 欧美做受777cos| 国产片侵犯亲女视频播放| www.激情网| 国产色一区二区三区| 国产精品自拍片| 夫妻免费无码v看片| 欧美女人性生活视频| 麻豆av免费在线| wwwwxxxx日韩| 午夜免费福利视频在线观看| 99国产精品久久久久久| 最新av在线免费观看| 国产乱人伦精品一区二区三区| 欧美国产综合在线| 欧美丰满熟妇bbbbbb百度| 欧美成人黑人猛交| 日本激情综合网| 黄色一级片网址| 国产女主播自拍| 久久婷婷国产精品| 亚洲一级免费观看| 99精品视频免费版的特色功能| 超碰97在线看| 日韩精品一区二区三区久久| 国产九九热视频| 四虎4hu永久免费入口| 久久综合色视频| 美女网站色免费| 日本高清视频免费在线观看| 国产精品网站免费| 日日躁夜夜躁aaaabbbb| 佐佐木明希av| 免费 成 人 黄 色| 中文字幕22页| av片在线免费| 日本www高清视频| 久久久国产精华液999999| 黄色污污在线观看| 国产第一页视频| 国产盗摄视频在线观看| 美女av免费在线观看| 激情久久综合网| 黄页免费在线观看视频|