China’s central bank to promote steady, healthy devt. to financial mkt

China’s central bank, The People’s Bank of China, says it will promote the steady and healthy development of the financial market and foster a sound monetary and financial environment.

The bank made the remark on Tuesday in response to recent financial market fluctuations which were mainly driven by investor expectations and sentiment.

The bank said that China’s financial system had been coordinating COVID-19 control with economic and social development, smoothening logistics as well as industrial and supply chains.

According to the central bank, to advance the healthy development of the platform economy, the rectification work of large platform companies would be steadily promoted.

The central bank would step up its prudent monetary policy to support the real economy, especially industries, micro, small and medium-sized enterprises and individual businesses that were badly affected by the epidemic.

Also, the bank said that special reloans would be issued in sectors including sci-tech innovation, elderly care, energy, agriculture and civil aviation, while maintaining reasonably sufficient liquidity in the market.