Remarks from Guo Shuqing, party secretary of the People’s Bank of China, in an interview with state media over the weekend, People’s Daily.
Bloomberg has the info (gated).
Said:
- As China's government gives households and private businesses greater financial support to aid in their recovery now that the Covid Zero policy has ended, China's economic growth will resume its "normal" course.
- “The key to the economic recovery is to convert current total income to consumption and investment to the largest possible extent”
- incomes will be boosted
- financial sector should enhance products to enable car, home puchases
- monetary policy to provide more support for private sector firms to expand credit growth and enable access to more funding
- yuan will continue to fluctuate, to appreciate in the mid to long term
- PBOC to monitor inflation developments, imported inflation
