Peijing (Reuters) – The Governor of Chinese Central Bank said on Sunday that the stable Yuan currency was key to global financial and economic stability, and Beijing will continue to allow the market to play a decisive role in deciding on the course.
China National Bank Governor Pan Gongsheng said at a conference in Saudi Arabia that, although most of the currency fell toward the dollar, Yuan remained stable.
“Recently, numerous factors have encouraged (index) dollars, and non-dolar currencies have been mostly depreciated. But RMB (Yuan) has remained mainly stable despite the highly volatility of the market,” PAN said at the Alula economy conference for a market economy in emergence for nose.
He also noted that China is increasingly prioritized by consumption, applying consumption policies, such as increasing household revenues and submission of subsidies.
China emphasized that the increase in consumption is a top economic priority in 2025, moving away from excessive recess to investment to encourage home demand and solve potential export challenges.
Pan also said in his speech that China would adopt a proactive fiscal policy and a customizable monetary policy and strengthen the adjustments of anti -cyclic policies.
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