China's central bank governor, Pan Gongsheng, reaffirmed plans to maintain an accommodative monetary policy in 2025 to counter economic challenges, including a potential trade war with the US under Donald Trump’s second term. Speaking at a financial forum in Beijing, Pan emphasized measures to ensure liquidity, lower borrowing costs, and boost economic stability amid risks to exports, a key growth driver. The yuan recently hit its lowest level in a year against the dollar, reflecting concerns over China’s growth prospects and US tariff threats. Recent steps by the People’s Bank of China (PBOC), such as significant interest rate and reserve requirement ratio cuts, signal continued monetary easing, with further reductions anticipated. Additionally, the PBOC revised the scope of M1 money supply to include individual demand deposits and funds on digital platforms like Alipay and WeChat, aiming to better reflect purchasing power in the economy. Continue here.
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