Technical Analysis

PBOC official says economic growth will return to normal, yuan to rise mid to long term


Eamonn Sheridan

Remarks from Guo Shuqing, party secretary of the People’s Bank of China, in an interview with state media over the weekend, People’s Daily.

Bloomberg has the info (gated).

Said:

  • As China’s government gives households and private businesses greater financial support to aid in their recovery now that the Covid Zero policy has ended, China’s economic growth will resume its “normal” course.
  • “The key to the economic recovery is to convert current total income to consumption and investment to the largest possible extent”
  • incomes will be boosted
  • financial sector should enhance products to enable car, home puchases
  • monetary policy to provide more support for private sector firms to expand credit growth and enable access to more funding
  • yuan will continue to fluctuate, to appreciate in the mid to long term
  • PBOC to monitor inflation developments, imported inflation

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