Will meet real economy’s financing needs.Will maintain reason growth of financial aggregates.Will increase efforts to support sci-tech innovation, boost consumption.Will support private economy, stabilise foreign trade.Will made good use of existing and incremental policies.Will strengthen monetary policy implmentation and transmission.Will promote international use of yuan.Will ‘resolutely’ safeguard national financial security.
I don’t see anything new here. We got some rate cuts recently and that certainly gives some support to the economy, but I would like them to go bigger on rate cuts given that they still have positive real rates amid deflationary forces.
This article was written by Giuseppe Dellamotta at www.forexlive.com.