More from People's Bank of China Governor Pan Gongsheng:
- Will resolutely guard against overshooting risks of yuan exchange rate
- Will resolutely deal with behaviors that disrupt market order
- Will prevent the formation of one-sided and self-reinforced market expectations
And:
- Spillover effect of property market adjustments on the financial system are generally manageable
- Will guide financial institutions to keep stable financing channels open through property credit, bonds0
- Some provinces are making plans to resolve risks of small and mid-sized banks
- Supports lgfvs to become market-oriented firms which do not rely on govt credit, and are financially independent and sustainable
- The central bank will provide emerging liquidity support to areas with relatively high debt burdens when necessary
- Will strictly control new govt-invested projects in areas with high debt burdens
- Will guide financial institutions to resolve debt risks through debt extension and replacementmore to come
Earlier remarks:
CNH rising:
