China's central bank pledges stronger support for innovation, consumption in H2
Xinhua, August 05, 2025 Adjust font size:
China's central bank on Friday pledged to step up its implementation of a moderately loose monetary policy and strengthen support for sci-tech innovation and consumption in the second half of the year.
At a mid-year meeting, the People's Bank of China (PBOC) said that financial support for economic growth, structural transformation and high-quality development has increased since the start of 2025.
As of the end of June, loans granted in the technology, green development and elderly care sectors have risen by 12.5 percent, 25.5 percent and 43 percent respectively year on year.
The PBOC said it will continue deploying a mix of monetary policy tools to ensure ample liquidity, support reasonable credit growth and strengthen the transmission of monetary policies.
Efforts will also be made to defuse local government debt risks, and to enhance risk monitoring and macroprudential oversight, according to the PBOC. ■