China's Economic Lifeline: PBOC's Strategic Moves
China's central bank commits to bolstering support for consumption and foreign trade amidst the trade war with the U.S. It introduces stimulus efforts such as interest rate cuts and liquidity injections. PBOC aims for flexible policy implementation, boosting sectors like tourism, education, and household services.
In response to the ongoing trade war with the United States, China's central bank has committed to increasing support for consumption and foreign trade. On Friday, the People's Bank of China (PBOC) unveiled a series of stimulus measures, including interest rate cuts and significant liquidity injections, to cushion the economic blow.
The PBOC's first-quarter monetary policy report highlights a flexible approach to policy implementation, tailored to both domestic and global economic conditions. Efforts will focus on enhancing support for consumption, foreign trade, technology innovation, and small businesses.
Key initiatives include a 500-billion-yuan re-lending facility for elderly care and services consumption, while maintaining a stable yuan to avoid currency overshooting. The bank also plans targeted funding for sectors like tourism, hospitality, and education, underscoring the broader strategy to support China's economic resilience.
(With inputs from agencies.)
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- interest rate
- liquidity
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