The People's Bank of China (PBOC) announced on Saturday that its monetary policy for 2025 will be "moderately loosened", using a range of tools to ensure sufficient liquidity, stabilize financial growth, and improve funding efficiency to support high-quality economic development.
This policy approach aims to maintain stable and high-quality economic growth by adjusting key monetary tools, including the reserve requirement ratio (RRR) and interest rates, in response to both domestic and global economic conditions.
In addition to ensuring ample liquidity, the PBOC will focus on optimizing the use of existing financial resources to improve capital efficiency.
The central bank will also deploy structural monetary policy tools to refine the financial system, reinforcing coordination with fiscal policies. These measures are designed to enhance financial support for technological innovation and consumer-driven growth.
Furthermore, the PBOC plans to expand financing channels, encouraging companies to raise funds through bonds, equities, and other market-based instruments. The objective is to improve the overall quality and efficiency of financial services, ensuring they meet the evolving needs of the economy.
China to moderately loosen its 2025 monetary policy: PBOC
China to moderately loosen its 2025 monetary policy: PBOC
China's home appliances exports in 2024 reported a surge, with statistics showing that a total of nearly 4.1 billion home appliances were exported from January to November, many of them from the Yangtze River Delta Region surrounding Shanghai.
According to the national and regional customs, the number of home appliances exported in the first 11 months of 2024 marked a 21.3 percent year-on-year surge, and many home appliances companies in the Yangtze River Delta Region, one of China's most important economic centers, reported a double-digit increase in export.
Cixi City, located in east China's Zhejiang Province, is one of the country's three home appliance production centers. A kitchen appliance company in the city that produces double-basket air fryers reported its export developments in the past year.
"The larger basket can be used to roast chicken, and the smaller one can be used to cook fries, chicken wings, and chicken nuggets. We estimate that year-round exports (in 2024) reached 1.2 billion yuan (about 160 million U.S. dollars), marking around 70 percent increase compared to last year's 700 million yuan (about 96 million U.S. dollars)," said Huang Zhiwen, marketing manager of the company.
East China's Suzhou City of Jiangsu Province gathers many cleaning appliance manufacturers, and many of them have expanded exports to multiple continents.
"What's behind me are lawnmowers, and we have stocked over 1,000 of them now. We also have robot vacuums, and robot window cleaners. One container can fit in around 500 pieces, and we export at least 20 containers per day, which is a very large amount," said Dong Qindong, the manager of the Department of Logistics of a service robot manufacturer in Suzhou, whose products are exported to the U.S., EU, South Korea, and more.
Another major home appliance company in Suzhou also reported an export boost in 2024, contributing over half of the company's total revenue.
"Among the overall overseas business in 2024, the total sales in North America, during Black Friday increased by over 100 percent, exceeding 40,000," said Meng Jia, the head of research of the company's robot vacuum division.
Many customs in the Yangtze River Delta Region reported double-digit increases in exports of various home appliances in 2024.
"In the first 11 months (of 2024), Cixi's home appliance exports reached 24.79 billion yuan (about 3.38 billion U.S. dollars), marking a 12.4 percent year-on-year increase. Among all, the export of electric ovens reached 4.98 billion yuan (about 680 million U.S. dollars), increased by 25.8 percent compared to last year's number, and the export of electric fans increased by 38.4 percent year-on-year," said Zhang Guoying, head of the first inspection office of Cixi Customs under Ningbo Customs.
Suzhou also reported a similar boost.
"Cleaning appliances, represented by traditional vacuums and robot vacuums, are our major export products, making up over 60 percent of the city’s total home appliance export. In addition, the export of coffee machines is also a highlight, reporting over 60 percent year-on-year increase. From January to November (2024), Suzhou's home appliances export reached 31.02 billion yuan (about 4.23 billion U.S. dollars), increased by 21.6 percent compared to last year's statistics," said Wu Min, deputy head of Suzhou Customs under Nanjing Customs.
Yangtze River Delta reports major increase in 2024 home appliances exports
