Samson: China: Economic growth is solid despite massive pressure
1st January, 2020
The Chinese central bank said on Wednesday that economic growth remains solid despite relatively large pressures and growing external uncertainty.
The People’s Bank of China said in a statement after the monetary policy committee meeting for the fourth quarter of the year, it will work to ward off financial risks and defuse them amid “profound changes” in the domestic and international economy. The bank added that it would keep the yuan’s exchange rate balanced and stable, and would use multiple monetary instruments and a flexible liquidity policy.
He added that he will keep the money supply and social financing growth in line with the nominal GDP growth, according to Reuters. The growth of the Chinese economy has slowed to its lowest level in nearly 30 years, and although economic activity has shown signs of accelerating recently, analysts widely expect that Beijing will implement more stimulus measures in 2020 to prevent a further slowdown. LINK