Feb 17, 10:18 AM

China's Central Bank Governor Pan Gongsheng in Saudi Arabia Emphasizes Yuan Stability and Proactive Fiscal Policy

China's central bank governor, Pan Gongsheng, emphasized the importance of a stable yuan for global financial and economic stability during a conference in Saudi Arabia. He stated that the People's Bank of China (PBOC) will continue to allow the market to play a decisive role in determining the exchange rate of the yuan. This statement comes amidst a strengthening dollar, which has impacted various currencies. The governor highlighted that the stability of the yuan is crucial, especially as cross-border yuan usage has significantly increased, which can help mitigate external shocks and promote more rational market trades. Additionally, he indicated that China would adopt a more proactive fiscal policy and maintain a moderately loose monetary policy to support these efforts.

#China #Pan Gongsheng #Saudi Arabia #PBOC

Written with ChatGPT (GPT-4o mini).

Sources

Additional media

Image #1 for story china-s-central-bank-governor-pan-gongsheng-saudi-arabia-emphasizes-yuan-fiscal-d189cdff