China to strengthen financial support for common prosperity

The People's Bank of China has vowed to maintain the stability of macro policies and provide strong financial support for the country's bid to promote common prosperity.

The central bank will take a raft of measures to maintain reasonably sufficient liquidity, better serve the real economy, enhance balanced regional development and facilitate the coordinated growth of different industries.

Instead of adopting a deluge of strong stimulus policies, the bank will use various monetary tools to maintain liquidity at a reasonable and ample level and guide appropriate growth in loans.

It will take measures to keep the growth of money supply and social financing in line with nominal economic growth, while keeping the macro leverage ratio basically stable.

To better serve the real economy, the bank will keep optimizing financial services, continue to offer financial support to smaller businesses and encourage financial institutions to strengthen support in key areas and weak links of the economy, such as agriculture, manufacturing and green development.

Efforts will be made to ramp up the sound and standardized growth of all types of capital, while resolutely preventing the disorderly expansion of capital, according to the bank.

In order to promote common prosperity among farmers and in rural areas, the bank will continuously offer sound financial services for rural vitalization, provide financial assistance and shore up the construction of rural financial infrastructure and service systems.