The People's Bank of China (PBoC) stated on Friday in its monetary policy assessment for the fourth quarter of 2022 that it expects the Far Eastern country's output to rebound in 2023 through, among other means, the institution's coordination of financial support for the real economy and risk prevention.
"We will pay close attention to changes in inflation trends, support the supply and price stability of energy and food, and keep the price level basically stable," the PBoC's statement read. It advocated policies focused on advancing "finance, technological innovation, green development," stronger consumption, and boosting "growth potential."
Commenting on 2022, the PBoC assessed that the "prudent monetary policy has achieved positive results, [and] strongly supported the stabilization of the economy." Earlier, PBoC monetary policy committee member Wang Yiming stated at the Global Wealth Management's forum that China's economy is expected to grow by 5% in 2023.
