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Message of support for the economy from the People’s Bank of China

China Central Bank Governor Yi Gang added a new one to his messages expressing the bank’s support for the real economy.

The People’s Bank of China, which diverged from the central banks that followed a tightening path at the global level, renewed its emphasis on supporting the real sector.

China’s Central Bank Governor Yi Gang said in a statement released on Sunday that the People’s Bank of China will take a step forward in lending to the real economy, while maintaining stability in the currency yuan.

Yi promised broad liquidity and credit support in his remarks at the parliamentary session on Friday.

The slowdown in automotive and real estate sales, the weakening of global trade, the decline in the confidence of small-scale companies and similar developments gave signals that the Chinese economy weakened in October.

Which takes into account eight leading indicators, was announced at 4 in October after a three-month improvement, pointing to a loss of momentum.

The indicator in question; It takes into account major company shares, steel rebar stocks, copper prices, China’s exports to South Korea, Standard Chartered’s confidence survey with small and medium-sized companies, and passenger vehicle sales.

Written by Maraaz

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