Speaking at an online roundtable organized by Caixin on April 17, China’s PBoC Governor Yi Gang said rebound from the Covid-19 epidemic has so far been better than expected and economic growth in the second half of the year will continue to gradually improve to “more or less the potential growth rate.” He cautioned, however, that much will depend on how the rest of the world recovers. He said that throughout the outbreak of the virus, China’s strategy was to make safeguarding lives the top priority, which inevitably had a significant impact on the economy. Macroeconomic policy was focused on stabilising employment and the People’s Bank of China (PBOC) played its role by supporting companies, especially small and midsized enterprises, and trying to help them in terms of cash flow.
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