China’s economy has seen a strong recovery since the coronavirus pandemic, but recent data suggest it is running out of breath. China’s central bank therefore came up with assurances that it would adapt its policy to the needs of the domestic economy.
China will continue to focus on promoting economic stability through its macroeconomic policies. Therefore, even in the second half of this year, the People’s Bank of China will not take any extraordinary measures, such as massive financial injections into the economy.
However, it will continue with a policy that ensures stable economic growth and, at the same time, a stable exchange rate for the domestic currency. Reuters reported, citing a statement from the People’s Bank of China on Saturday. China’s central bank also intends to continue to put pressure on companies that profit from cryptocurrency speculation.
China’s economy is currently facing a slowdown in industrial activity growth. This increased at its lowest rate since February 2020, as China faced the onset of the coronavirus epidemic. The purchasing managers’ index fell to 50.4 points in July from 50.9 in June. Values above 50 signen the growth of industrial activity, below 50.