China's central bank to focus on continuity, no major policy shifts

Chen Yulu, vice-governor of the People's Bank of China addresses reporters' queries via video link in Beijing during the two sessions on March 10, 2021.- China Daily

BEIJING (Xinhua): The People's Bank of China, the central bank, will not make any major policy shifts this year and will instead deploy more financial resources to support the real economy, a senior official said ahead of the official release of broad money supply and credit growth, both of which surged in February.

The PBOC said broad money supply, or M2, increased to 223.6 trillion yuan (US$34.26 trillion) by the end of February, up by 10.1 per cent on a yearly basis and by 0.7 percentage point from that in January.