Free Trial

China To Prioritize Currency Stability: Yi Gang

CHINA PRESS

China will establish a modern central banking system prioritizing currency stability, sound employment, financial stability and balance of payments, PBOC Governor Yi Gang wrote in the People's Daily. China needs to take a market-based monetary and regulatory approach with the PBOC sustaining a healthy balance sheet, wrote Yi. China will prevent fiscal deficit monetization by building an independent central bank financial budget management system, and corporate credit risks must not impact the PBOC's balance sheet and the currency, wrote Yi.

MNI Singapore Bureau | +65 9 632 1991 | sumathi.vaidyanathan.ext@marketnews.com
MNI Singapore Bureau | +65 9 632 1991 | sumathi.vaidyanathan.ext@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.