PBOC: Will ramp up financial support to shore up economic recovery in 2023

“China will implement its prudent monetary policy in a targeted and efficient manner, and will ramp up financial support to domestic supply and demand, in a bid to shore up economic recovery in 2023, “ the latest statement released after a work meeting for the coming year showed on Wednesday.

Additional points

On top of maintaining sufficient liquidity through a combination of multiple policy tools, the People's Bank of China said it will work to reduce financing costs for market entities and help expand consumption.

Will keep yuan exchange rate stable.