China-Lujiazui Forum/Monetary Policy

China to continue pursuing regular monetary policy to ensure stability: central bank chief

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Shotlist


Shanghai, China - June 10, 2021 (CCTV - No access Chinese mainland)
1. Various of Yi Gang, governor, People's Bank of China, speaking at 13th Lujiazui Forum,
2. Various of attendees
3. SOUNDBITE (Chinese) Yi Gang, governor, People's Bank of China:
"Though China's current interest rate is slightly higher than those of major developed economies, it has remained at a relatively low level in comparison with the rates in all developing countries and emerging economies. Generally the interest rate of China has been at an appropriate level, which is conducive to the stable and healthy development of all markets."
4. Aerial shot of the Bund
5. Various of bank staff members receiving clients
6. Sign of currency exchange rate counter
7. SOUNDBITE (Chinese) Yi Gang, governor, People's Bank of China:
"China will continue to deepen the market-oriented reform of the interest rate system, and unleash potential from the reform of the LPR (Loan Prime Rate) system. We will keep improving the managed floating exchange rate system which is based on market demand and supply, and which is adjusted in reference to a basket of currencies, to promote internal and external balance of the economy, and keep the Chinese yuan's exchange rates basically stable on the basis of rational balance."
8. Various of Yi speaking on rostrum, attendees

Storyline


China will continue to pursue a regular monetary policy to ensure stability, with the focus on maintaining cross-cycle balance between demand and supply, Yi Gang, governor of the People's Bank of China, said on Thursday.

Considering that China's economy is operating within a reasonable range and nears the potential output level, with controllability of commodity prices, the country's monetary policy needs to suit the new development stage, and therefore, a regular monetary policy will continue to be carried out, with priority given to maintaining stability, Yi said at the 13th Lujiazui Forum in Shanghai.

In particular, great importance shall be attached to maintaining cross-cycle balance between demand and supply, with the strength and rhythm of policy application well brought under control, said the central bank chief.

"Though China's current interest rate is slightly higher than those of major developed economies, it has remained at a relatively low level in comparison with the rates in all developing countries and emerging economies. Generally the interest rate of China has been at an appropriate level, which is conducive to the stable and healthy development of all markets," Yi said.

He said that China will continue to deepen the market-oriented reform of the interest rate system, and unleash potential from the reform of the LPR (Loan Prime Rate) system.

"We will keep improving the managed floating exchange rate system which is based on market demand and supply, and which is adjusted in reference to a basket of currencies, to promote internal and external balance of the economy, and keep the Chinese yuan's exchange rates basically stable on the basis of rational balance," Yi said.

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  • ID : 8203059
  • Dateline : June 11, 2021/Recent
  • Location : Shanghai,China
  • Category : economy, business and finance
  • Duration : 1'28
  • Audio Language : Chinese/Nats
  • Source : China Central Television (CCTV)
  • Restrictions : No access Chinese mainland
  • Published : 2021-06-11 09:33
  • Last Modified : 2021-06-11 19:21:56
  • Version : 1
  • ID : 8203059
  • Dateline : 11 juin 2021/Récent
  • Location : Shanghai,Chine
  • Category : economy, business and finance
  • Duration : 1'28
  • Audio Language : Chinois/Nats
  • Source : China Central Television (CCTV)
  • Restrictions : Pas d’accès dans la partie continentale de Chine
  • Published : 2021-06-11 19:15
  • Last Modified : 2021-06-11 19:21:56
  • Version : 1
  • ID : 8203059
  • Dateline : 1 jun. 2021/Reciente
  • Location : Shanghai,China
  • Category : economy, business and finance
  • Duration : 1'28
  • Audio Language : Chino/Nats
  • Source : China Central Television (CCTV)
  • Restrictions : No acceso a la parte continental de China
  • Published : 2021-06-11 18:48
  • Last Modified : 2021-06-11 19:21:56
  • Version : 1

China-Lujiazui Forum/Monetary Policy

China to continue pursuing regular monetary policy to ensure stability: central bank chief

Dateline : June 11, 2021/Recent

Location : Shanghai,China

Duration : 1'28

  • English
  • Français
  • Español


Shanghai, China - June 10, 2021 (CCTV - No access Chinese mainland)
1. Various of Yi Gang, governor, People's Bank of China, speaking at 13th Lujiazui Forum,
2. Various of attendees
3. SOUNDBITE (Chinese) Yi Gang, governor, People's Bank of China:
"Though China's current interest rate is slightly higher than those of major developed economies, it has remained at a relatively low level in comparison with the rates in all developing countries and emerging economies. Generally the interest rate of China has been at an appropriate level, which is conducive to the stable and healthy development of all markets."
4. Aerial shot of the Bund
5. Various of bank staff members receiving clients
6. Sign of currency exchange rate counter
7. SOUNDBITE (Chinese) Yi Gang, governor, People's Bank of China:
"China will continue to deepen the market-oriented reform of the interest rate system, and unleash potential from the reform of the LPR (Loan Prime Rate) system. We will keep improving the managed floating exchange rate system which is based on market demand and supply, and which is adjusted in reference to a basket of currencies, to promote internal and external balance of the economy, and keep the Chinese yuan's exchange rates basically stable on the basis of rational balance."
8. Various of Yi speaking on rostrum, attendees


China will continue to pursue a regular monetary policy to ensure stability, with the focus on maintaining cross-cycle balance between demand and supply, Yi Gang, governor of the People's Bank of China, said on Thursday.

Considering that China's economy is operating within a reasonable range and nears the potential output level, with controllability of commodity prices, the country's monetary policy needs to suit the new development stage, and therefore, a regular monetary policy will continue to be carried out, with priority given to maintaining stability, Yi said at the 13th Lujiazui Forum in Shanghai.

In particular, great importance shall be attached to maintaining cross-cycle balance between demand and supply, with the strength and rhythm of policy application well brought under control, said the central bank chief.

"Though China's current interest rate is slightly higher than those of major developed economies, it has remained at a relatively low level in comparison with the rates in all developing countries and emerging economies. Generally the interest rate of China has been at an appropriate level, which is conducive to the stable and healthy development of all markets," Yi said.

He said that China will continue to deepen the market-oriented reform of the interest rate system, and unleash potential from the reform of the LPR (Loan Prime Rate) system.

"We will keep improving the managed floating exchange rate system which is based on market demand and supply, and which is adjusted in reference to a basket of currencies, to promote internal and external balance of the economy, and keep the Chinese yuan's exchange rates basically stable on the basis of rational balance," Yi said.

ID : 8203059

Published : 2021-06-11 09:33

Last Modified : 2021-06-11 19:21:56

Source : China Central Television (CCTV)

Restrictions : No access Chinese mainland

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