People's Bank of China: Domestic Demand Potential Expected to Be Further Released

The People's Bank of China stated that the foundation for stable and improving economic conditions needs to be further consolidated. Currently, the external environment is complex and changeable, with insufficient resilience in global economic growth, frequent geopolitical conflicts and trade frictions, and divergent economic performances among major economies, leading to increased uncertainty in the external environment. The contradiction between strong supply and weak demand is prominent, and the recovery of domestic demand is unbalanced. It is necessary to continuously consolidate the momentum for economic development towards a new, better, and superior direction. As the integrated effects of existing and incremental policies continue to play out, the potential for domestic demand is expected to be further released.

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