In a recent interview with CMG, Pan Gongsheng, governor of the People's Bank of China (PBOC), highlighted significant improvements in China's financial system. He emphasized that the system is now more stable and sound, attributing this progress to several key factors.
Pan pointed out a reduction in local government debt and the implementation of historically low mortgage down payments as pivotal measures contributing to the overall decline in risk levels. These developments signal a positive trend for the Chinese economy, fostering a more secure environment for both domestic and international investors.
Reference(s):
C.Bank governor: China's financial system sees decline in risk levels
cgtn.com
