A senior central bank executive said at a symposium in Shanghai on Saturday that China would provide the proper monetary environment to maintain supply chain stability while keeping its conservative monetary policy flexible.
The statements by Xuan Changneng, deputy governor of a People’s Bank of China (PBOC). Came as COVID-19 outages have put the pressure on the second-largest economy in the world and slowed down worldwide supply chains.
Economy, geopolitical instability, and COVID have been affecting the stability of the world’s manufacturing supply chain recently. Upsetting the global economy by slowing economic growth, and escalating inflationary pressure, according to Xuan. Who was reported by the state-owned Shanghai Securities News.
He continued by saying that the Chinese central bank would continue to advance supply chain finance. Support crucial regions and COVID-affected industries with basic monetary policy tools, and strengthen financing effectiveness.
The deputy PBOC governor also reaffirmed. That the expectations for the yuan exchange rate have been largely stable so far this year and have stabilised the macroeconomic environment.