People's Bank of China (PBOC) Governor Pan Gongsheng said Wednesday that financial plans for 2024 include the implementation of a "prudent monetary policy" and the creation of a credit market department.
During a press conference, the governor said that for the year ahead, his commitment is to adhere to a cautious monetary strategy, using a diverse range of monetary policy instruments and aiming to keep "reasonable and sufficient liquidity." As for domestic financial risks, he noted that they are "currently controllable," and that the "spillover" of monetary policies in developed areas like the United States will progress in the direction of decreasing pressure in 2024. "Such a change in the external environment will objectively help strengthen China's currency," he added
In addition, he noted that to improve the credit structure and intensify "financial support for private enterprises and small and micro enterprises," they will establish a credit market department.
