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


  • 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:

cnh pboc 08 November 2023