China will create a stable financial environment to keep the supply chain going, according to the vice governor of the PBOC.
A senior official from China’s central bank said at a forum in Shanghai on Saturday that the country will set up the right monetary environment to keep the supply chain stable while keeping its careful monetary policy flexible.
The People’s Bank of China’s (PBOC) deputy governor, Xuan Changneng, made these comments as COVID-19 problems have messed up global logistics chains and put pressure on the world’s second-largest economy.
“In recent years, protectionism, geopolitical tensions, and COVID have continued to affect the stability of the global industrial supply chain, upsetting the global economic order, slowing down economic growth, and making inflationary pressures worse,” Xuan was quoted as saying by the state-run Shanghai Securities News.
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He also said that China’s central bank would keep pushing for the development of supply chain financing, help key areas and COVID-affected industries through structural monetary policy tools, and improve the efficiency of financing.
The deputy governor of the PBOC also said that expectations for the yuan exchange rate have been mostly stable so far this year and have helped keep the economy stable.Changning
