Both domestic and international environments are undergoing profound changes, with global supply chains continuously impacted, and meanwhile, China’s domestic economic structure is also adjusting, said Xuan Changneng, Deputy Governor of the People’s Bank of China, at a forum on Thursday.
Amid increasing uncertainties, China has adopted a clearly defined moderately accommodative monetary policy, and the central bank has implemented multiple cuts to the reserve requirement ratio (RRR) and interest rates, using monetary policy adjustments to support economic development, he said.
The policy stance remains clear—China will reduce RRR and interest rates at an appropriate time based on domestic and international economic and financial conditions, said Xuan.