PBOC Monetary Policy Committee Addresses China's Economic Challenges

The People's Bank of China (PBOC) Monetary Policy Committee held a meeting discussing the country's economic challenges, including insufficient demand and weak growth expectations. PBOC aims to intensify existing monetary policies, maintain ample liquidity, guide financial institutions to increase medium- and long-term loans to the manufacturing industry, support banks in replenishing capital, and implement prudent monetary policies effectively. The central bank also plans to correct pro-cyclical behavior, prevent exchange rate risks, and promote small and mid-sized banks to focus on core business.