Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
In Depth: What’s in the China-U.S. Tariff Truce, and What’s Left Unsettled
LATEST
ByteDance, Tencent Rush to Launch Personal AI Agents After Meta’s Muse Success
Luxshare, Foxconn Among Firms Targeted in U.S. Power System Probe
CXMT Shares Suffer Biggest Drop Since July IPO
Xiaohongshu Pushes Further Into Gaming, Anime With Bigger Festival
In Depth: What’s in the China-U.S. Tariff Truce, and What’s Left Unsettled
AI to Drive Expansion in Cyberattacks, Industry Execs Warn
AI Boom Faces Growing Threat From Climate Change, Researcher Says
AI Boom Redraws Global Tech Map, Industry Executives Say
Chinese Phone-Makers Raise Prices of Flagship Models as Memory Costs Surge
Qualcomm China Chief Sees Country Well Placed for AI Device Race
Tencent to Shut Down QClaw Assistant in Enterprise AI Push
DJI and Insta360’s Battle for Gimbal Camera Market Comes at a Cost
From Chips to Laptops: Alibaba Accelerates Full-Stack AI Ambitions
China’s Open-Source AI Could Narrow Global Income Gap, Economist Says
Embodied AI Startup Paxini Kicks Off Mainland IPO Bid Amid Sector Volatility
Alibaba Unveils New AI Chip as Cloud Infrastructure Push Deepens
Xiaomi Steps Up AI Investment With New Models
AI Firm SiliconFlow Raises New Funds
China Seeks to Protect Minors With Proposed AI Rules
Chinese Smartphone Makers Bet on AI Agents to Revive Demand
China Has Ample Policy Tools for Uncertainties, Central Bank Says

By Peng Qinqin and Han Wei / May 11, 2019 02:47 AM / Finance

Photo: Bloomberg

Photo: Bloomberg

Officials of China’s central bank said Friday that there are plenty of policy tools and ample room for maneuver for the country to respond to internal and external uncertainties.

The comments came as China reported slower credit growth in April while facing renewed tariff clashes with the United States.

Hours before the central bank briefing, the U.S. increased tariffs on $200 billion a year of Chinese imports to 25% from 10%. China’s Ministry of Commerce responded by saying Beijing will retaliate. The escalation came as high-level bilateral negotiations to resolve the trade dispute were going on in Washington.

“In the face of a changing economic environment at home and abroad, China has ample room for monetary policy and plenty of tools in its policy kit, making it capable of responding,” said Sun Guofeng, head of the monetary policy department of the People's Bank of China.

Central bank data released Thursday indicated slower credit growth in April after a surge in March, fueling concerns over slowing economic growth and sparking expectations of further loosening of monetary policy.

The slower-than-expected April figures reflected mainly seasonal factors, and overall credit has remained on a rising track, said Zhang Wenhong, the central bank’s deputy statistics chief, at the same briefing.

The central bank will maintain a prudent monetary policy while keeping liquidity reasonably ample, Sun said. The monetary authority will properly manage money supply and fine-tune policies according to changes in economic conditions, Sun said.

Related: China’s Credit Growth Slows After March Surge


Share this article
Open WeChat and scan the QR code