China's central bank's Xuan expects 8% nominal growth - Breaking The News
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China's central bank's Xuan expects 8% nominal growth

Economy
Christian Baha / KA

1 min read

EPA/PETER TREBITSCH

China's Central Bank (PBoC) Deputy Governor Xuan Changneng stated during a press conference on Thursday that he expects the country's nominal economic growth to be around 8% in 2024.

He added that the bank will maintain appropriate growth in credit and total social financing. Xuan went on to say that the bank has "ample monetary policy room" to cut reserve ratio requirements (RRR) for commercial banks, noting that the cut is one of the key measures for the PBoC to inject liquidity into the market.

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