PBOC Governor Yi: Will implement prudent monetary policy

The People’s Bank of China (PBOC) Governor Yi Gang is on the wires now, via Xinhua news agency, commenting on the monetary policy and financial sector risks.

Key Headlines:

To implement a prudent monetary policy.

Will improve monetary policy transmission mechanism.

To step up the support of the real economy.

Will provide long-term capital to smaller firms via targeted RRR cuts.

China is to ensure healthy stock market development.

Will stick to structural deleveraging.

Will appropriately deal with external uncertainties for financial markets.

Financial risks that have been exposed in China have been dealt with in an orderly manner.

Financial risks are generally under control.

Macro leverage risks for China is basically steady.