PBOC pledges to ensure healthy development of financial markets (1)

25 Oct. 2022, 12:40

Reactions come in response to just-decided party conference Chinese stocks and currencies plummeted this week

China’s central bank and exchange regulator said they would maintain healthy equity and bond markets, while reiterating that the yuan would be “essentially stable”.

The People’s Bank of China and the State Administration of Foreign Exchange will improve coordination with other agencies to ensure the soundness of the stock, bond and real estate markets, according to a statement posted on the central bank’s website on Tuesday.

Hours earlier, the China Bank and Insurance Regulatory Commission said in a statement that China’s capital markets have “long-term investment value” as the economy transforms and innovation is pursued. The Chinese securities…

Bloomberg News

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