China’s central bank chief vows to seize economic momentum to boost confidence
- Governor Pan Gongsheng tells International Monetary and Financial Committee that China will focus more on finding a balance between growth and sustainability
- He also says there have been more bright spots in economic development recently and that business sentiment has improved
China’s central bank says it will seize on recent momentum in the economy and better leverage monetary policies to boost demand and confidence.
Pan Gongsheng, governor of the People’s Bank of China (PBOC), made the remarks at a two-day meeting of the International Monetary and Financial Committee in Marrakech, Morocco that ended on Saturday.
He said the country would focus more on striking a better balance between economic growth and sustainability, according to a PBOC statement.
On the basis of maintaining a reasonable growth rate, we will actively promote high-quality and sustainable development
“In the process of transforming the economic growth model, more attention will be paid to consumption, innovation, green growth and related new infrastructure,” said Pan, who is also head of the State Administration of Foreign Exchange.
“On the basis of maintaining a reasonable growth rate, we will actively promote high-quality and sustainable development.”
Pan said there were more bright spots in China’s economic development recently and business sentiment was better.
He also told the meeting that youth employment had seen significant improvement, according to Chinese news site The Paper.