🚀China's Financial Stability Report Released, China's Economy Steadily Advancing in 2024 📈
Latest news, the People's Bank of China has released the "China Financial Stability Report (2024)", bringing us the latest updates on China's economy. The report states that despite the complex international situation in 2023, China's economy has still made steady progress, with GDP exceeding 126 trillion yuan, a year-on-year increase of 5.2%. Employment conditions remain stable, and the RMB exchange rate has also remained steady, with a robust financial system.
The report also mentions that under the central leadership, the financial system insists on seeking progress while maintaining stability, supporting the real economy, and preventing risks. For example, by lowering the reserve requirement ratio and policy interest rates, over 1 trillion yuan of medium to long-term funds have been released to support small and micro loans and manufacturing. In the real estate market, policies have also been introduced to support stable operations, such as lowering the down payment ratio and interest rates for personal housing loans.
In the face of external shocks, we also have response strategies, such as adjusting the macro-prudential regulation parameters for cross-border financing, maintaining basic balance in international payments. The financial stability guarantee system is also continuously improving, such as accelerating the legislative process for financial stability laws and strengthening the resource guarantee for risk disposal.
Looking ahead, China's economic fundamentals are solid, resilient, and have great potential, with the long-term positive trend 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 continue to strengthen risk prevention and control to ensure financial security.
In short, China's economy is steadily improving in 2024, the financial system operates steadily, and we will continue to move forward, maintaining high-quality economic development. Let's look forward to more good news together!