China Boosts Financial Stability with New Monetary Moves

China's central bank governor Pan Gongsheng announced enhanced counter-cyclical measures and supportive monetary policies. The government aims to maintain financial system stability and keep the yuan exchange rate balanced.

China is set to take stronger measures towards maintaining its financial stability, according to central bank governor Pan Gongsheng. Speaking before the top legislative body, Pan outlined plans for increased counter-cyclical adjustments and a supportive monetary policy stance.

The statement released on Monday highlights the government's intention to keep the financial system steady. Pan, representing the State Council, emphasized efforts to maintain the stability of the yuan exchange rate.

This move underscores China's commitment to ensuring economic equilibrium amid global fiscal challenges.

(With inputs from agencies.)