China’s central bank governor outlines priorities in work report By Reuters

© Reuters. FILE PHOTO: A woman walks past the headquarters of the People’s Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. REUTERS/Jason Lee/File Photo

SHANGHAI (Reuters) – People’s Bank of China Governor Pan Gongsheng on Saturday outlined the central bank’s priorities for the near future in a work report delivered to China’s State Council.

They include guiding financial institutions to cut real lending rates and reduce financing costs for enterprises and individuals, resolving the default risk of bonds of big real estate enterprises, preventing risk contagion in stock, bond and foreign exchange markets, and ensuring the stable operation of financial markets, according to an account published on the official government website.

Other priorities outlined by the governor included making monetary policy more precise and forceful, and enhancing the stability of financial support for the real economy, including by effectively supporting the expansion of domestic demand and implementing policy measures to activate the capital market and boost investor confidence, the report said.

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