© Reuters. FILE PHOTO: People walk along Nanjing Pedestrian Road, a main shopping area, in Shanghai, China May 5, 2021. REUTERS/Aly Song
BEIJING (Reuters) – China’s central bank will focus on supporting the slowing economy, People’s Bank of China Governor Yi Gang said on Friday, adding that domestic consumer inflation is likely to stay moderate in 2023.
The central bank’s accommodative policy will help support China’s economic recovery and employment, Yi said in a video speech to the Bank of Thailand-BIS conference in Bangkok.
“Our focus is growth right now,” Yi said, adding that China’s economic growth is slower than expected due to the impact from the COVID-19 pandemic and other headwinds.
Yi said advanced and emerging-market economies should improve policy collaboration to cope with challenges facing the global economy.