Anna 
A high-ranking official from the People’s Bank of China (PBOC), Zou Lan, addressed key issues during a press conference on Friday. Emphasizing the need to support the economy, Lan highlighted several essential points for monitoring in the coming period.
Zou Lan underlined the ample room available to support China’s economy, highlighting the importance of policy measures and their effectiveness. The recent interest rate cuts, particularly targeting the real estate industry, have yielded significant results, indicating a positive direction.
Monetary policy, Lan noted, will be applied with precision and effectiveness to ensure economic stability. Additionally, in the fourth quarter, Zou Lan expects steady growth in both total social financing and credit, promising continued support to bolster economic development.
Lan addressed concerns about the yuan’s performance relative to the United States and expressed optimism that the pressure stemming from the yield gap between the two nations might ease. Furthermore, China is committed to maintaining a current account surplus, and the country has a solid foundation for stabilizing the Renminbi (RMB).
In closing, Zou Lan stressed the importance of resolutely preventing the risk of the RMB overshooting, underlining China’s determination to maintain stability in its currency exchange rates.
This comprehensive approach outlined by PBOC’s Zou Lan reflects China’s dedication to supporting its economy and ensuring the effectiveness of policy measures to achieve this goal.
