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China to prevent “black swan”, maintain stability in financial markets, said PBOC Governor

China will prevent various “black swan incidents”, or unforeseen events, and maintain stability in the country’s stock market, bond market and foreign exchange markets, said Yi Gang, governor of the People's Bank of China, on Wednesday.

Policy makers reiterated that they will step up support this year, following a raft of measures in 2018 including fast tracking infrastructure projects and cuts in banks’ reserve requirements and taxes, amid a trade dispute with the US.

“The financial support for the real economy has increased to reflect counter-cyclical adjustments,” said Yi quoted by the the official Xinhua news agency . . .

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