China’s Central Bank Plans New Economic Policies

BEIJING (Reuters) – China’s central bank is planning new policies to support economic growth in the second half of the year. Governor Pan Gongsheng announced on state media CCTV that the implementation of previously introduced measures will be expedited.

Pan did not provide specific details regarding the new policies. He highlighted that the number of high-risk small and medium-sized banks in China has almost halved from its peak and noted a significant reduction in the cost burden of local government debt.