Monetary policy report

Since the beginning of 2024, China has seen its prudent monetary policy prop up economic growth, with money and credit supplies maintaining reasonable growth, according to the second-quarter monetary policy execution report released by the People’s Bank of China (PBoC) on Friday.

The country has promoted a stable and moderate reduction in the overall cost of social financing. Overall, monetary policy has been supportive since the beginning of the year, providing financial backing for sustained economic recovery and growth.