Solid Foundation To Achieve Year End Goals - PBOC

China’s economy has a solid foundation to achieve its end of year economic goals following Q3 GDP growth of 4.9%, according to the People’s Bank of China’s third quarter annual report. Going forward, policymakers will pay more attention to cross-cyclical and counter-cyclical adjustments and promote the steady decline in real-economy financing costs using the guiding role of policy interest rates. The PBOC will also adjust housing credit policies and lower mortgage interest rates and existing first-home loan interest rates. Authorities will also deepen market-oriented reforms and maintain the basic stability of the yuan at a reasonable and balanced level.