China Focus: China's central bank outlines policy priorities for 2020

    Source: Xinhua| 2020-01-05 22:04:22|Editor: huaxia
    Video PlayerClose

    The headquarters of the People's Bank of China. (Xinhua/Cai Yang)

    China's central bank mapped out key policies and tasks for 2020, aiming at ensuring sound monetary and financial conditions in 2020, as China enters homestretch to securing a decisive victory in building a moderately prosperous society in all respects.

    BEIJING, Jan. 5 (Xinhua) -- China's central bank mapped out key policies and tasks for 2020 during an annual work conference held in Beijing from Thursday to Friday.

    The People's Bank of China (PBOC) said in an online statement released after the tone-setting meeting that the policies are set to, among other things, ensure sound monetary and financial conditions in 2020, as China enters homestretch to securing a decisive victory in building a moderately prosperous society in all respects.

    The following are some key policy takeaways:

    -- Prudent, moderately flexible monetary policy to stay

    China will strengthen its counter-cyclical adjustments and maintain reasonably abundant liquidity in the banking system. The PBOC also highlighted market-based interest rate reform and advancing the issuance of perpetual bonds by banks for replenishing capital.

    China will continue to let the market play a decisive role in exchange rate formation and keep the renminbi's exchange rate generally stable at a reasonable and balanced level.

    -- Winning the battle in forestalling, defusing major financial risks

    China will establish and improve mechanisms regarding the recovery, loss sharing, as well as incentives and constraints of financial institutions. Work will continue in addressing the risks of major financial institutions in accordance with laws and regulations.

    The PBOC also stressed continuous special operations in addressing internet financial risks and faster progress in establishing a long-term management scheme for real estate finance.

    -- Greater financial support for supply-side structural reform to ease strain for small businesses

    Work on this front will include better use of policy tools including targeted reserve requirement ratio, re-lending and rediscount to effectively improve financing to small and micro firms.

    Efforts will be made to shore up credit support to key areas and the weak links. The PBOC will focus on areas with extreme poverty and better energize local industries with financial support to help the country win the battle against poverty.

    A view of the Lujiazui area in Shanghai, east China, Oct. 15, 2019. (Xinhua/Fang Zhe)

    -- Faster improvement in macro-prudential management

    The PBOC will establish a stress testing system for macro-prudential management, and speed up the introduction and improvement of an integrated macro-prudential management mechanism of cross-border capital flow for local and foreign currencies.

    Assessment on systemically important banks will be conducted, and efforts will be made toward the introduction of measures regarding the supervision and management of financial holding companies.

    -- Higher level of financial reform, opening up

    The PBOC points to energetic efforts in developing the country's bond market and continued progress in improving the connectivity among bond market infrastructures.

    Meanwhile, China will make active and prudent efforts to advance the internationalization of renminbi, and support trailblazing efforts on deepening foreign exchange management system reform in the country's pilot free trade zones and free trade ports.

    -- Stronger fintech R&D

    In 2020, China will work to establish and improve the basic rules for financial technology (fintech) supervision, and do a solid job in the pilot program of fintech innovation and supervision.

    The PBOC will steadily advance the research and development of China's legal digital currency.

    -- Boosting financial services, management

    Efforts will be made to deepen reform in areas including science and innovation finance, green finance and inclusive finance.

    The country will strengthen the development of the anti-money laundering coordination mechanism, and continue to strengthen anti-money laundering supervision.

    KEY WORDS:
    EXPLORE XINHUANET
    010020070750000000000000011102121386801811
    主站蜘蛛池模板: 日本高清在线免费| 一级特黄录像视频免费| 污片在线观看网站| 国产一二三视频| 三级视频在线播放| 女人张腿让男桶免费视频网站 | 超清首页国产亚洲丝袜| 少妇丰满大乳被男人揉捏视频 | 五月亭亭免费高清在线| 热の无码热の有码热の综合| 国产一区在线mmai| 亚洲欧美自拍明星换脸| 在线观看www成人影院| 中国一级特黄的片子免费 | 国产噜噜在线视频观看| 91啦在线视频| 小莹的性荡生活37章| 久久亚洲精品成人| 欧美videosdesexo肥婆| 国语对白做受xxxx| 丰满少妇高潮惨叫久久久| 欧美va天堂在线电影| 亚洲精品无码你懂的网站| 精品国产欧美一区二区| 国产公开免费人成视频| 美女网站色在线观看| 在线看无码的免费网站| 一级一级一片免费高清| 日本三级带日本三级带黄首页| 亚洲а∨精品天堂在线| 毛茸茸性XXXX毛茸茸毛茸茸| 动漫人物将机机桶机机网站 | 欧美真实破苞流血在线播放| 全免费a级毛片免费看不卡| 香蕉久久久久久AV成人| 国产精品久久久久久久久齐齐| 99国内精品久久久久久久| 婷婷无套内射影院| 中文字幕一区日韩精品| 日本特黄高清免费大片爽| 亚洲va乱码一区二区三区|