PBoC targets stability ahead of party congress
Twice-a-decade Communist party congress starts on October 18
With China’s 19th party congress imminent, the People’s Bank of China is attempting to engineer market stability via a strengthened renminbi and a targeted cut to the reserve requirement ratio to encourage “inclusive financing”.
The outgoing PBoC governor, Zhou Xiaochuan, has also made a fresh call to ease the country’s capital account controls and continue currency reforms.
Held every five years, the national congress of the Communist Party of China is set to begin on October 18. Despite an
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