PBOC sets goals to support economic growth, development

China's central bank will work to sustain buoyant financing activity while expanding financial opening-up this year as part of its efforts to effectively support economic growth and high-quality development.

The People's Bank of China, the country's central bank, said on Friday that it will focus on ensuring a balanced allocation of new credit, enhance the efficiency of existing funds and improve the credit structure so that social financing can achieve a relatively rapid growth in a sustainable way throughout the year.

The PBOC said in a statement following its two-day annual work meeting through Friday that it will deepen financial market opening-up by making it easier for foreign investors to take part in China's bond market.

Efforts will also be made to enhance the connectivity of domestic and overseas financial infrastructures, engage in the formulation of international trade rules involving the financial sector, further improve the policy system that facilitates cross-border renminbi use and improve payment services for overseas visitors to China, the central bank said.