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E-mail Xinhua, January 5, 2025
File photo shows the People's Bank of China in Beijing, capital of China. (Xinhua/Peng Ziyang)
China's central bank has outlined its monetary and financial priorities for 2025 following a two-day meeting that ended Saturday, emphasizing expanding domestic demand, stabilizing expectations and stimulating vitality to ensure sustained improvement in the Chinese economy.
The People's Bank of China (PBOC) said it will implement a moderately loose monetary policy in 2025, forestall and defuse financial risks in key areas, and further deepen financial reform and high-standard opening up.
Unveiling its monetary policy for this year, the central bank explained that it will implement a moderately loose monetary policy to create a sound monetary and financial environment for stable economic growth.
It also noted leveraging a mix of monetary policy tools to reduce the reserve requirement ratio and interest rates when appropriate in light of domestic and international economic and financial conditions and the operation of financial markets.
The PBOC said it will maintain sufficient liquidity and steadily increase financial supply, so that the growth in social financing and money supply will match the target for economic growth and overall price levels.
The meeting also underlined putting existing financial resources to good use and improving efficiency in the use of funds. In the meantime, the PBOC will keep the exchange rate of the yuan basically stable at an adaptive and balanced level, and forestall exchange rate overshooting risks.
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