The People's Bank of China (PBOC) -- China's central bank -- will maintain a supportive monetary policy stance and policy orientation in the coming year, in efforts to continue promoting reduction of the comprehensive financing cost on the part of both businesses and individuals, PBOC Governor Pan Gongsheng said on Monday.
Speaking at the 2024 Annual Conference of China Society for Finance and Banking and China Monetary and Financial Forum in Beijing, Pan said that the central bank will utilize a variety of monetary policy tools and increase countercyclical regulation to maintain reasonable and ample liquidity, and to reduce the overall financing costs for both businesses and individuals.
Since the beginning of 2024, the central bank has conducted multiple monetary policy adjustments, and introduced a package of incremental policies in late September to achieve the annual economic development target, according to Pan.
"The next year is the last year of the 14th Five-year Plan period (2021-2025). The People's Bank of China will continue to uphold a supportive monetary policy stance and orientation and step up support for scientific and technological innovation, green finance, consumer finance, and the stable development of real estate and stock markets. At the same time, we will also actively promote reform of the monetary policy framework," Pan said.
The PBOC also announced Monday that starting from January 2025, a new statistical caliber of M1 money supply will be implemented, which will include personal demand deposits and non-bank payment institutions' customer reserves.
The central bank will enhance its monitoring of money supply at various levels and social liquidity, Pan noted.
China to maintain supportive monetary policy in 2025: central bank governor
Senior representatives from major regional news media organizations, gathering at the ongoing 12th Global Video Media Forum (VMF) in China, say they are looking to amplify the voices of the media in the Global South to help consolidate cooperation and friendship in an ever more challenging global environment.
The forum opened in Quanzhou in east China's Fujian Province on Tuesday, bringing together 200 media representatives from over 60 countries and regions in the historic coastal city.
By working more closely together, media organizations in the Global South can reap rewards that might otherwise be unavailable, according to Ahmed Nadeem, Secretary-General of the Asia-Pacific Broadcast Union.
"If we work together, there is an opportunity for us to bring out the best from these Global South countries who have much less resources," he said.
Other media representatives at the VMF stressed that in challenging times, it is even more important for developing countries to have their voices heard on the global stage.
"[The Global] South media have a lot of responsibility to build a new opinion," said Issoufou Sare, Director-General of BF1 Television.
"[The media can provide] solutions for misunderstandings or stereotypes. So the media have a major role. They can bridge our cultures and make us know each other better," said Feten Fardi, head of Arab and International Cooperation Unit, Arab States Broadcasting Union.
The event also witnessed the launch of the "Global South Media Dialogue and Cooperation Mechanism and Joint Initiative," a program to support closer cooperation led by China Media Group.
"That will help to promote our voices, our realities to make the world know better about our customs, realities, about our history, about our culture, customs, about our problems, but also our achievements," said Martin Hacthoun, chief editor of Press Latina News Agency.
The two-day VMF is being held under the theme "Intelligence Without Frontiers, Vision Beyond The Horizon -- Media's Role in Communication and Cultural Exchange."
Launched by the CCTV Video News Agency (CCTV+) in 2011, the VMF is an annual professional journalism forum focusing on the latest trends and innovations in news and journalism, which provides a highly specialized, unique and interactive platform for domestic and foreign media peers.
Media groups aim to amplify voice of Global South at VMF
