China central bank says to guide credit, social financing growth as economic challenges rise By Reuters

© Reuters. Headquarters of the PBOC, the central bank, is pictured in Beijing

© Reuters. Headquarters of the PBOC, the central bank, is pictured in Beijing

BEIJING (Reuters) – China central bank said on Monday it will guide reasonable growth of credit and social financing and further improve the monetary policy transmission channel.

The People’s Bank of China said in a statement that anti-globalization and trade protectionism are rising, stoking uncertainties and creating challenges for China’s economy.

The central bank reiterated that it will step up support for private and smaller companies, making it easier for these firms to access bank loans.

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