China's monetary policy to prioritize stability in 2021
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E-mail Xinhua, January 8, 2021
China will prioritize stability in its monetary policy in 2021, said Yi Gang, governor of the People's Bank of China.
China will use a comprehensive range of monetary policy tools, maintain liquidity at a reasonably ample level, and ensure that the growth of broad money supply and social financing basically matches nominal economic growth, Yi told Xinhua in an interview.
The country will provide more financial support to small and micro-sized businesses, technological innovation and green development, Yi added.
When asked about the exit from the extraordinary measures adopted last year to revive the economy, Yi said China did not adopt zero or negative interest rates, nor did it implement quantitative easing.
As one of the few major economies that implemented normal monetary policies, China stayed away from using a deluge of stimulus policies, he added.
Therefore, the exit from extraordinary measures will have a small impact on the country's economy this year, Yi said.
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