The head of the Chinese central bank has reiterated its commitment to stepping up financial inclusion measures that specifically target small private businesses.
People’s Bank of China (PBOC) governor Yi Gang (易纲) said that the monetary authority would “employ myriad stratagems and plans to improve financial services for private micro and small-enterprises, and expedite the high-quality growth of the economy.”
Yi made the remarks at a recent Chinese Communist Party (CCP) study session in his capacity as a member of the party.
The PBOC governor said that the central bank would “firmly guard the central sluice gates of money,” and ‘make maintaining the fundamental interests of the people the starting point for all work.”
Yi Gang also highlighted the role of the leadership of the CCP in ongoing development of the Chinese financial system.
“Under the correct leadership of the party centre, China’s financial sector has gone from nothing to something, from weak to strong, and gradually opened up both internally and externally – its influence has continually increased,” said Yi.
“This is full proof of the historical necessity of upholding the concentrated, unified leadership of the party centre in financial work, and firmly pursuing the path of Socialism with Chinese Characteristics in financial development.”