China Central Bank Governor Pledges Stronger Support to Economy

A city worker sweeps the ground in front of the headquarters of the People's Bank of China in Beijing in May 2021. Photo: Bloomberg

(Bloomberg) — China’s central bank will step up the implementation of its prudent monetary policy to provide stronger economic support, Governor Yi Gang said.

The economy is facing “certain downward pressures” due to the pandemic and external factors even as domestic inflation is relatively low, Yi said in a meeting of G-20 central bank governors and finance ministers. The People’s Bank of China (PBOC) released a statement on his comments Saturday.