{"id":215361,"date":"2025-12-04T17:00:08","date_gmt":"2025-12-04T17:00:08","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/215361\/"},"modified":"2025-12-04T17:00:08","modified_gmt":"2025-12-04T17:00:08","slug":"chinas-central-bank-vows-strong-breakwaters-to-shield-from-external-shocks","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/215361\/","title":{"rendered":"China\u2019s central bank vows \u2018strong breakwaters\u2019 to shield from external shocks"},"content":{"rendered":"<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Central bank governor Pan Gongsheng has stressed the importance of China maintaining a sound monetary system that remains resilient to external shocks and systemic risks, signalling a focus on stability ahead of a key policy meeting.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Pan said monetary policy must balance internal and external pressures, \u201cprimarily taking into account domestic economic and financial conditions\u201d, while also factoring in the \u201cspillover effects\u201d from other economies, in an editorial for the Communist Party\u2019s People\u2019s Daily on Thursday.<\/p>\n<p>His remarks were part of a series of commentaries by senior Chinese officials in the state mouthpiece in recent weeks, aimed at implementing Beijing\u2019s policy directions outlined at October\u2019s tone-setting fourth plenum for the <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/article\/3326468\/chinas-15th-5-year-plan?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">15th five-year plan<\/a>.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The governor of the People\u2019s Bank of China also highlighted the importance of \u201ccontinuously improving the yuan\u2019s exchange-rate-formation mechanism\u201d.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201c[We need to] ensure the exchange rate plays its role as an automatic stabiliser for macroeconomic adjustment and the balance of payments, and to create favourable conditions for implementing monetary policy with autonomy and effectiveness,\u201d Pan wrote.<\/p>\n","protected":false},"excerpt":{"rendered":"Central bank governor Pan Gongsheng has stressed the importance of China maintaining a sound monetary system that remains&hellip;\n","protected":false},"author":2,"featured_media":215362,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[117032,1793,4932,79,381,13947,356,179,18,182,50989,19,117031,17,19217,2711,46956,1361,2712,28023],"class_list":{"0":"post-215361","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-annual-central-economic-work-conference","9":"tag-beijing","10":"tag-bloomberg","11":"tag-business","12":"tag-china","13":"tag-communist-party","14":"tag-donald-trump","15":"tag-economy","16":"tag-eire","17":"tag-federal-reserve","18":"tag-financial-institutions","19":"tag-ie","20":"tag-internet-finance","21":"tag-ireland","22":"tag-kevin-hassett","23":"tag-peoples-bank-of-china","24":"tag-peoples-daily","25":"tag-real-estate","26":"tag-scott-bessent","27":"tag-yuan"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115662371235473640","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/215361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=215361"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/215361\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/215362"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=215361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=215361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=215361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}