PBOC to Boost Support for Key Sectors

The People's Bank of China announced that it will strengthen financial support for key areas such as expanding domestic demand, encouraging technological innovation, and supporting small and micro enterprises. The report indicated that a moderately accommodative monetary policy has created a supportive environment for high-quality economic development, with the growth of targeted loans to sectors like technology, environment, and the digital economy surpassing the overall growth rate until the end of June. The bank also emphasized the continued implementation of monetary policies while maintaining exchange rate stability for the Renminbi and financial markets, and working to avoid systemic financial risks.

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