MNI BRIEF: PBOC Enhances Supports To Key Sectors
The PBOC plans to use monetary policy tools to support a range of key sectors.
The People’s Bank of China will make good use of relending preferential measures to support five key areas, the central bank said in a statement on Tuesday.
The Bank will “effectively and fully” utilise monetary-policy tools, expand bank loans and manage existing loans to ensure supportive polices channel to certain sectors, including technology, green growth, small business, ageing and digital.
The Bank will enhance policy guidance, strengthen policy incentives and reinforce assessment in order to guide financial institutions and improve their performance, the PBOC noted.
MNI reported late last year that China would pursue more moderate and targeted fiscal and monetary policy in 2024 as it aims to maintain GDP at 5%, while limiting risk and cultivating new drivers of high-quality growth. (See MNI: China To Pursue Moderate Policy Support In 2024)