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China’s Recovery From Pandemic Better Than Expected, PBOC Chief Says
May 02, 2020 04:00 PM

China’s Recovery From Pandemic Better Than Expected, PBOC Chief Says

China’s rebound from the coronavirus pandemic has so far been better than expected and economic growth in the second half of the year will continue to gradually improve to “more or less the potential growth rate,” said PBOC Governor Yi Gang, although he cautioned that much will depend on how the rest of the world recovers.

Speaking at an online roundtable organized by Caixin on April 17, Yi said that throughout the outbreak of the virus, China’s strategy was to make safeguarding lives the top priority, which inevitably had a significant impact on the economy. Macroeconomic policy was focused on stabilizing employment and the People’s Bank of China played its role by supporting companies, especially small and midsized enterprises, and trying to help them in terms of cash flow.

“Very strong financial support has supported the recovery of the economy,” Yi said.

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Contact editor Yang Ge (geyang@caixin.com)

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