The Central Bank of China reported that the Chinese economy protects its stability despite the confused conditions it has been having for a time.
The Bank of China stated that although the environment is still “mixed”, the economy and financial markets are generally stable, and it is added in the report that the necessity for greater emphasis on the prevention of risks is important.
The Central Bank of China also reported that the recovery in major developed countries is ongoing, following a meeting of the monetary policy committee led by Zhou Xiaochuan. It is said in the first quarter report of the bank that the economic environment should not be underestimated and the recovery in developed countries accelerated.
The Bank of China reiterated its commitment to a “prudent and neutral” policy and said that it would “keep the liquidity relatively stable and keep the credit growth at a reasonable temp.” Meanwhile, it is stated that the monetary authority will “closely follow the latest developments” in domestic and global economies and will not pay attention to international capital flows.
The Bank of China noted that a separate rapporteur issued late Tuesday urged closer monitoring of cross-sectoral risks and coordination of financial supervision in order to establish a “unified force” to close the deficits in financial regulation.