China’s central bank pledges prudent macro polices in 2022

China will further improve its regulatory framework of monetary and macro-prudential policies, as part of efforts to step up counter-cyclical adjustments and curb risk contagion, according to the central bank.

Monitoring, evaluation and early warnings of systemic risks should be strengthened, the People’s Bank of China (PBOC) said in a video conference on its work in 2022.

The PBOC has called for additional supervision over systemically important banks in an orderly manner.

An evaluation and supervision framework for systemically important insurance companies should be established, the PBOC said, adding that the access management of financial holding companies should be in accordance with laws and regulations.

The PBOC also pledged better coordination between domestic and foreign currency policies, as well as improvement in trade and investment facilitation.

Source: Xinhua

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