China’s economy to return fast to potential growth, PBOC says

The PBOC will continue to direct funding to private and small firms as well as those critical to the supply chain.

BEIJING: China’s economy will swiftly return to its potential growth rate and there’ll be significant improvement in the coming three months, a senior central bank official said Sunday.

"Economic indicators will likely show significant improvement in the second quarter and the Chinese economy will return to potential output level rather swiftly, ” People’s Bank of China Deputy Governor Chen Yulu told reporters in Beijing.

Chen repeated earlier pledges to keep credit growth stable and make good use of the central bank’s targeted easing approach, and did not announce any new stimulus measures.