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China to control inflation and foreign exchange rates during 2023

Ecommerce Business Growth And Retail Tax Inflation

China to control inflation and foreign exchange rates during 2023

Beijing, Mar 3 (Prensa Latina) The Central Bank of China said that during 2023 it will maintain inflation stable and under control, the exchange rate of foreign currencies against the yuan and interest rates.

According to the governor of that entity, Yi Gang, no major changes are expected in these indicators because the country has sufficient liquidity, its currency remains strong and can support price stability in the long term.

Meanwhile, vice-governor Liu Guoqiang indicated that China will adjust monetary policy at the appropriate time and is in a position to handle any inflation-related pressures.

Pan Gongsheng, another Bank executive, referred to the introduction of a new development model in the real estate market, under the principle that ‘houses are for living and not for speculation’.

He pointed out that the increase in the price of housing deposits is due to the fall in consumption due to the impact of the Covid-19 pandemic on the population’s pockets and the decrease in investments in the sector.

However, Pan hoped for an improvement in the situation as the country’s economy picks up and citizens return to the spending rhythm reported before the health crisis.


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