PBOC governor vows supportive policy in 2025

China's central bank governor has pledged to continue the supportive monetary policy in 2025, as markets await a top-level meeting later this month to further set the tone for next year's macroeconomic policies.

Pan Gongsheng, governor of the People's Bank of China, said on Monday that the central bank will continue to adhere to a supportive monetary policy stance in 2025, using a mix of monetary policy tools to strengthen counter-cyclical adjustments.

The PBOC will work to ensure reasonable and ample liquidity while reducing the overall financing costs for businesses and households, Pan said while addressing a financial forum in Beijing.

Structural monetary policy tools will play a vital role, Pan said, adding that efforts will be made to promote the stable development of the real estate and capital markets.

Pan also highlighted plans to advance reforms in the monetary policy framework. These will include strengthening interest rate policy execution and transmission, as well as enriching tools in the monetary policy toolkit.