China’s central bank to set up new credit market department

Unit will be tasked with guiding banks’ lending support for key areas of finance


The People’s Bank of China (PBoC) will set up a department this year to steer lending towards areas that the authorities see as being key to economic growth.

The bank’s governor Pan Gongsheng said during a press conference on January 2024 that the new credit market department would focus on five areas: technology finance, green finance, inclusive finance, pensions finance and digital finance.

During last October’s Central Financial Work Conference, government officials stressed the need to step up

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