China's central bank to spare no effort in serving real economy in 2022

BEIJING, March 4 (Xinhua) -- China will in 2022 accelerate its construction of systems and mechanisms for the financial sector to effectively support the real economy, according to the country's central bank.

The People's Bank of China (PBOC) will guide financial institutions to optimize their financing structures, and better support key areas and weak links of the economy, the bank said during a video conference on financial market work in 2022 held on Tuesday.

While providing financial support to micro, small and medium-sized enterprises, as well as market entities, the PBOC will increase support for services industries that have been hit by the pandemic, the meeting said.

It also stressed the importance of efforts to further consolidate poverty alleviation achievements, implement a prudent regulation system for real estate financing, and reduce carbon emissions.

More efforts will be made to optimize the institutional environment of the bond market, the meeting said, urging solid efforts to prevent and defuse default risks in the bond market and strengthen the overall supervision and construction planning of financial infrastructure.

The central bank will work to promote self-inspection and rectification procedures for the financial businesses of internet platform enterprises, and maintain a high-pressure crackdown on speculation in virtual currency transactions, the meeting noted.