China’s central bank will continue to implement a steady monetary policy in 2022
Published: Dec 27, 2021 02:22 PM
A view of the PBC's headquarters in Beijing Photo: cnsphoto

A view of the PBC's headquarters in Beijing Photo: cnsphoto

 China's central bank held the 2022 work conference virtually on Monday, deploying the working tasks for 2022 with an emphasis on continuously implementing a prudent monetary policy, with flexibility and moderation, the People's bank of China (PBC) said on Monday. 

According to a statement released by the PBC on Monday, the conference stressed the importance of adopting a variety of monetary policy tools in a bid to maintain reasonable liquidity, increase the support for the real economy and enhance the flexibility of renminbi exchange rate to retain its stability. 

Moreover, the PBC will further increase financial support for key areas, such as micro and small business, with ongoing support in financing, while further promoting the development of a green economy and level up the financial support for rural revitalization. 

The conference also emphasized to strengthen supervision on financial platforms, enterprises and services, continue to rectify online financial platforms, and resolutely strengthen anti-monopoly supervision to prevent the disorderly expansion of capital.

At the same time, the PBC will steadily implement a prudent management of the financial system for real estate to better meet the reasonable housing demand of homebuyers and promote the healthy development of the sector. 

The PBC will further deepen international financial cooperation and financial reform while leveling up financial services and management. For instance, the central bank will steadily promote research and trials for the digital yuan and strengthen support for the construction of the offshore yuan center in Hong Kong. 

Meanwhile, the conference reflected on the milestones achieved by the central bank in 2021, such as fully participating and contributing to the Regional Comprehensive Economic Partnership Agreement coming into effect.