🚀China Financial Stability Report Released, China's Economy Steadily Moving Forward in 2024 📈
Latest news, the People's Bank of China has released the "China Financial Stability Report (2024)", bringing us the latest dynamics of the Chinese economy. The report states that despite the complex international situation in 2023, the Chinese economy has still made steady progress, with GDP exceeding 126 trillion yuan, a year-on-year growth of 5.2%, stable employment conditions, and a stable RMB exchange rate, with a robust financial system.
The report also mentions that under the leadership of the central government, the financial system adheres to the principle of seeking progress while maintaining stability, supports the real economy, and prevents and controls risks. For example, by lowering the reserve requirement ratio and policy interest rates, more than 1 trillion yuan of medium- and long-term funds have been released to support microloans and manufacturing. In the real estate market, policies have also been introduced to support stable operations, such as reducing the down payment ratio and interest rates for personal housing loans.
In the face of external shocks, we also have coping strategies, such as adjusting the macro-prudential parameters for cross-border financing to maintain basic balance in international payments. The financial stability guarantee system is also continuously improving, such as accelerating the legislative process for the Financial Stability Law and strengthening the resource guarantee for risk disposal.
Looking ahead, the foundation of the Chinese economy is solid, resilient, and has great potential, and the long-term positive trend remains unchanged. The financial system will continue to implement proactive macro policies, maintain ample liquidity, and support key areas of high-quality development, such as technology finance and green finance. At the same time, it will also continue to strengthen risk prevention and control to ensure financial safety.
In summary, in 2024, the Chinese economy is steadily improving, the financial system is operating soundly, and in the future, we will continue to move forward and maintain high-quality economic development. Let's look forward to more good news together!