UP

China's Xi urges financial risk prevention

Home page World
12 Punto 14 Punto 16 Punto 18 Punto

China should seek stable development of its economy while not forgetting to fend off risks to its financial system, Chinese President Xi Jinping said, state news agency Xinhua reported on Saturday.

Axar.az reports citing Reuters.

China’s economy is growing at its slowest pace in almost 30 years, spurring policymakers to bolster growth by easing credit conditions and cutting taxes.

On Wednesday, Premier Li Keqiang reiterated that China would not resort to “flood-like” stimulus such as it unleashed in past downturns.

But after a spate of weak data, investors are asking if Beijing needs to speed or boost support to reduce the risk of a sharper slowdown.

Until now, China has refrained from cutting benchmark interest rates to spur the slowing economy, which would ease financing costs but risk adding to a mountain of debt.

To free up more funds for lending to small and private businesses, the central bank has cut the reserves that banks need to set aside five times in the past year.

Last month, Chinese banks made the newest loans on record, a total of 3.23 trillion yuan ($481 billion). A central bank official said previously that no credit floodgate had been opened, and the lending jump showed recent easing steps were working.

China’s financial sector must serve the real economy, Xi said, but stable growth and risk prevention must be balanced.

Date
2019.02.23 / 20:35
Author
Axar.az
Comments
See also

Warning from Israel: Do not go to these countries!

Crocus attack: how did Simonyan escape at the last moment?

Simonyan: I told this to Gafarova, and we agreed - New meeting

This is meaningless Kremlin propaganda - USA

The number of military evaders reaches 1 million in Ukraine

Putin will never forgive this - Zelensky

The shock from Lavrov: NATO is already entering Armenia

Israel must understand that this is wrong - Tayani

Crocus terror attack: Terrorists were financed by Ukraine

Poland opens the border with Ukraine? - Tusk

Latest
Xocalı soyqırımı — 1992-ci il Bağla
Bize yazin Bağla
ArxivBağla