PanGongsheng

China's Economic Strategy Set to Emphasize Consumer Spending, PBOC's Pan Insists

3 months ago

In a pivotal shift towards bolstering the nation’s economic recovery, the People's Bank of China (PBOC) has articulated a renewed focus on stimulating consumer demand. PBOC Governor Pan Gongsheng emphasized that cultivating a robust consumption environment is essential for sustained economic growth as the country seeks to transition away from its traditional reliance on exports and investment-driven growth. This shift is seen as critical to addressing ongoing economic challenges that China currently faces.

China's Central Bank Chief Pledges Continued Economic Support into 2025

4 months ago

In a significant announcement aimed at bolstering confidence in China's economic outlook, the central bank governor, Pan Gongsheng, indicated a commitment to maintaining supportive monetary policies through 2025. This statement comes in light of ongoing economic challenges faced by the country, including sluggish domestic demand and external pressures affecting trade.