The People’s Bank of China (PBOC) Governor Yi Gang said in a statement on Thursday, the fundamentals of the economy remain sound.
Yuan-denominated assets remain attractive due to relatively high yield gap with other convertible currencies, Yi added.
Additional quotes
“Financial markets are stable overall.”
“The PBOC has guided financing costs lower so far this year.”
“Will keep liquidity reasonably ample in the second half of 2020.”
“Non-performing loans have increased amid COVID-19 pandemic.”
“Expects new yuan loans to hit nearly 20 trillion yuan and total social financing to reach over 30 trillion yuan in 2020.”
“Central bank's balance sheet is stable around 36 trillion yuan.”
Separately, China’s top security regulator was also reported by Reuters, saying that the authorities will continue to comprehensively deepen capital market reform.
Further comments
“Top priority is to help market confidence recover amid pandemic.”
“Will strengthen oversight over cross-border misbehaviours in stock markets.”
“Will strengthen cooperation in supervising auditing of listed companies. “
“Will help consolidate Hong Kong as an international financial center.”
“Will include star market companies in benchmark indexes.”
“Vows zero tolerance toward accounting fraud.”
“Will improve China's pricing power of commodities including crude oil.”
Related articles
- USD/CNY: Slips below 7.0900 to trim PBOC-led gains
- China’s Vice Premier Liu: Economy has gradually improved
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD alternates gains with losses near 1.0720 post-US PCE
The bullish tone in the Greenback motivates EUR/USD to maintain its daily range in the low 1.070s in the wake of firmer-than-estimated US inflation data measured by the PCE.
GBP/USD clings to gains just above 1.2500 on US PCE
GBP/USD keeps its uptrend unchanged and navigates the area beyond 1.2500 the figure amidst slight gains in the US Dollar following the release of US inflation tracked by the PCE.
Gold keeps its daily gains near $2,350 following US inflation
Gold prices maintain their constructive bias around $2,350 after US inflation data gauged by the PCE surpassed consensus in March and US yields trade with slight losses following recent peaks.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.