PBOC To Boost Stable Credit Growth, Support Real Economy

The People’s Bank of China will keep its prudent monetary policy flexible and boost stable growth of credit to support the real economy, according to a statement on the PBOC website following a year-end meeting outlining the work for next year. The PBOC said it would aim to increase fluctuations in the Chinese yuan while keeping it stable on a reasonable and balanced level. The central bank will also improve market-based pegging of interest rates to reduce financing costs for companies, while targeting financial support for SMEs, technology innovation and carbon emission reduction, the statement said.