Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Aug. 1 (Xinhua) — The People's Bank of China (PBOC, the central bank) on Friday pledged to step up its moderately loose monetary policy and strengthen support for scientific and technological innovation and consumption in the second half of 2025.
As was stated at the PBC meeting on work in the second half of the year, since the beginning of 2025, the country has seen an increase in financial support for economic growth, as well as an increase in the quality and efficiency of financial services for structural transformation of the economy and high-quality development.
In addition, the meeting noted that, as of the end of June, the volume of loans issued in the technology, green development and elderly care sectors increased by 12.5 percent, 25.5 percent and 43 percent, respectively, year-on-year.
The Central Bank said it would continue to use multiple monetary policy instruments in a combined manner to ensure sufficient liquidity in the banking system, encourage financial institutions to maintain prudent lending growth, and strengthen the smooth implementation of monetary policy.
In addition, the PBOC assured that efforts will be made to reduce local government debt risks, as well as strengthen risk monitoring and assessment and macroprudential regulation. –0–
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