China's central bank to enhance financial services to boost consumption

Xinhua
09 May 2025, 19:19 GMT+10

A customer (L) tries gold jewelry at a shopping mall in Nantong City, east China's Jiangsu Province, May 3, 2025. (Photo by Zhai Huiyong/Xinhua)

BEIJING, May 9 (Xinhua) -- China's central bank will implement a series of measures to improve financial services aimed at stimulating consumer spending, according to a report released Friday by the People's Bank of China (PBOC).

According to the PBOC's first-quarter 2025 monetary policy report, it will better implement the moderately loose monetary policy. At the same time, it will explore the application of structural policy tools. These tools will be used to guide financial institutions to better support consumption across key sectors, such as tourism, catering, entertainment and education.

According to the report, the PBOC will introduce a comprehensive package of financial policies to stimulate consumption, with emphasis on supply-side support.

Financial institutions will be encouraged to optimize credit products and services for key consumption scenarios, major strategies and priority groups, and the central bank will support auto finance companies and consumer finance firms in issuing financial bonds, said the report.

Additionally, the central bank aims to build an efficient and convenient payment ecosystem while improving payment convenience for foreigners visiting China.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Middle East Star.

More Information

null in null

International Business

Section

"Creating jobs destroys poverty", says World Bank President Ajay Banga, praising UP Govt's development efforts

Lucknow (Uttar Pradesh) [India], May 9 (ANI): President of the World Bank Group Ajay Banga on Friday said that creating jobs destroys...

China's central bank to enhance financial services to boost consumption

A customer (L) tries gold jewelry at a shopping mall in Nantong City, east China's Jiangsu Province, May 3, 2025. (Photo by Zhai Huiyong/Xinhua)...

"Important to isolate Pakistan...": Congress leader Pawan Khera

New Delhi [India], May 9 (ANI): Asserting that Pakistan should be 'isolated', Congress leader Pawan Khera on Friday said that they...

Pakistan seeks IMF assistance as economic collapse deepens

Islamabad [Pakistan] May 9 (ANI) Pakistan's chronic dependence on global bailouts hit another low on Friday as the International Monetary...

World Bank has no role beyond a facilitator on Indus Waters Treaty issue: President Ajay Banga

New Delhi [India], May 9 (ANI): World Bank has no role beyond being the facilitator of the Indus WatersTreaty between India and Pakistan,...

World Bank chief Ajay Banga meets UP CM Yogi Adityanath during day-long Lucknow visit

Lucknow (Uttar Pradesh) [India], May 9 (ANI): World Bank President Ajay Banga met Uttar Pradesh Chief Minister in the state's capital...

International

Section