China central bank says economic fundamentals sound, pledges liquidity By Reuters

© Reuters. Governor of People's Bank of China (PBOC) Yi Gang attends a news conference on China's economic development ahead of the 70th anniversary of its founding, in Beijing

© Reuters. Governor of People’s Bank of China (PBOC) Yi Gang attends a news conference on China’s economic development ahead of the 70th anniversary of its founding, in Beijing

SHANGHAI (Reuters) – China’s economic fundamentals remain sound and its financial markets are stable overall, the central bank governor said on Thursday, adding that the bank would keep liquidity levels reasonably ample in the second half of the year. Yi Gang said the People’s Bank of China had guided financing costs lower this year, when he expects new loans to hit nearly 20 trillion yuan, and total social financing to increase by more than 30 trillion yuan. The bank’s balance sheet remains stable around 36 trillion yuan ($5.08 trillion), he added, speaking at a financial forum in Shanghai.
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