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

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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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