On Monday, January 13, 2025, Governor Pan Gongsheng (PBOC) of the People’s Bank of China (PBOC) was the governor of the People’s Bank of China (PBOC).
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The governor of China’s central bank said on Sunday that a stable yuan currency is key to global financial and economic stability and that Beijing will continue to allow the market to play a decisive role in determining exchange rates.
People’s Bank of China Gundam said at a meeting in Saudi Arabia that the yuan remains stable despite the majority of currencies already deficit the US dollar.
Pan said at the Alula meeting of emerging market economies: “Recently, despite high market volatility, there are still many factors that have improved the US dollar index, and currencies not the US dollar mostly depreciate.
He also pointed out that China is increasingly prioritizing consumption and implementing pro-consumption policies such as increasing household income and providing subsidies.
China stressed that increasing consumption is the highest economic focus in 2025, rather than over-reliance on investment to stimulate domestic demand and address potential export challenges.
In his speech, Pan also said that China will adopt proactive fiscal policies and loose monetary policies, and strengthen the adjustment of counter-cyclical policies.
