The People’s Bank of China (PBOC), on Friday said that China’s inflation will remain mild in the year 2023. According to the latest updates from PBOC, the Chinese economy will witness a mild impact from the monetary policies of developed nations.
Addressing a press conference, Deputy Governor Xuan Changneng said that China will avoid flooding the economy with liquidity in a bid to strike balance among growth, job creation and price stability.
The central bank’s stance comes on the backdrop of developments in which Beijing has been trying to recover from choppy waters fueled by its visibly flawed and hastily abandoned zero COVID strategy. According to reports citing economists, China’s GDP is slated to grow at 4.8 per cent in 2023, as against a mere 3 per cent in year 2022.
PBOC says it is studying additional structural loans for property sector
At the Friday briefing, Zou Lan, head of the PBOC’s monetary policy department said that deliberations are underway in Beijing to deploy tools to stabilize the Chinese real estate market – Bloomberg reported. PBOC also said that China will help shore up the balance sheets of high quality property companies and is studying additional structural loans for the property sector, which has been hit during the pandemic phase.
