The
monetary unit of the China is the RMB.
中国的货币单位是人民币。
The world's
monetary system is falling apart.
世界货币体系正在走向瓦解。
No country's
monetary system is on the gold standard
现在没有哪些国家的货币制度是金本位制的
We forecast growth will be 4.6 percent in the third quarter and will improve to 5 percent in the fourth quarter on the back of fiscal, monetary and property policy supports that have been recently announced.
我们预测，在最近宣布的财政、货币和房地产政策支持的支持下，第三季度的增长率将达到4.6%，第四季度将提高到5%。
These in turn will require both monetary easing and expansionary fiscal policy to boost aggregate demand.
这反过来又需要货币宽松和扩张性财政政策来提振总需求。
The International Monetary Fund has raised its projection for China's economic growth in 2023 to 5.2 percent.
国际货币基金组织将2023年中国经济增长预测上调至5.2%。
"The traffic gridlock I used to grapple with in the past is no more and my clients are happy since I am able to deliver products on time," said Kimotho, who is among the high-frequency users of the expressway selected randomly and awarded a monetary gift.
Kimotho说：“我过去经常遇到的交通堵塞已经不复存在，我的客户很高兴，因为我能够按时交付产品。”Kimotho是高速公路的高频用户之一，他是随机选择的，并获得了一份金钱礼物。
How do you see the room in fiscal and monetary policies to counter the challenges and aim to maneuver towards steady growth?
你如何看待财政和货币政策应对挑战和实现稳定增长的空间？
This year, China's central bank will implement a prudent monetary policy that is targeted and forceful to support the economy.
今年，中国央行将实施稳健的货币政策，有针对性、有力地支持经济。
The People's Bank of China, the country's central bank, said in a statement earlier last week that it will give full play to the function of monetary and credit policy tools to deliver strong support for the recovery and expansion of consumption, key infrastructure and the construction of major projects in line with national development plans.
中国央行中国人民银行在上周早些时候的一份声明中表示，将充分发挥货币和信贷政策工具的作用，为消费复苏和扩大、关键基础设施和符合国家发展计划的重大项目建设提供有力支持。
The circular said the central bank will make comprehensive use of its monetary policy toolkits to maintain reasonably adequate liquidity in the banking system, and financial regulators should implement differentiated policies on the tolerance of non-performing loans for small and micro businesses.
通知称，央行将综合运用货币政策工具，保持银行体系流动性合理充裕，金融监管机构应对小微企业实施差别化的不良贷款容忍政策。
Chen Jia, a researcher at the International Monetary Institute of Beijing-based Renmin University of China, said Chinese pharmaceutical enterprises must reinforce R&D and innovation capabilities to further improve their competitiveness.
总部位于北京的中国人民大学国际货币研究所研究员陈佳表示，中国制药企业必须加强研发和创新能力，以进一步提高竞争力。
Chen Jia, a researcher at the International Monetary Institute of the Renmin University of China, said:"Chinese vaccine companies have become more aware of the importance of independent innovation.
中国人民大学国际货币研究所研究员陈佳说：“中国疫苗公司越来越意识到自主创新的重要性。
Chen Jia, a researcher at the International Monetary Institute of the Renmin University of China, said that no matter whether seen from a macro or micro perspective, the Chinese government has offered a series of supportive policies to foster foreign companies' green moves.
中国人民大学国际货币研究所研究员陈佳表示，无论从宏观还是微观角度来看，中国政府都提供了一系列支持政策，以促进外国公司的绿色行动。
"Zheng suggested the government should roll out more industrial, fiscal and monetary policies to help SMEs to accelerate sales, reduce inventories and expand production.
郑建议政府应该推出更多的产业、财政和货币政策，帮助中小企业加快销售、减少库存和扩大生产。
The rules are designed to address a largely held view that internet giants should be better regulated, given that they possess a huge amount of personal information that could be not only misused for monetary and other kinds of gains but may become vulnerable to leaks, experts said.
专家表示，这些规则旨在解决一种普遍存在的观点，即互联网巨头应该得到更好的监管，因为他们拥有大量的个人信息，这些信息不仅可能被滥用用于金钱和其他形式的收益，而且可能容易被泄露。
Local governments need to choose more market-oriented methods like carbon tax and carbon trading, instead of administrative interventions, to foster structural reforms and avoid too sharp a decline in energy supply that could constrain production activities, said Wang, who is also a member of the central bank's monetary policy committee.
同时也是央行货币政策委员会成员的王表示，地方政府需要选择更市场化的方法，如碳税和碳交易，而不是行政干预，以促进结构改革，避免能源供应急剧下降，从而限制生产活动。
The People's Bank of China, the central bank, rolled out a new monetary policy tool in November for carbon reduction.
中国央行中国人民银行在11月推出了一项新的碳减排货币政策工具。
As opposed to monetary measures, higher investment in infrastructure is a practical way to deal with the economic slowdown and boost manufacturing.
As opposed to monetary measures, higher investment in the infrastructure sector is a practical way to deal with the economic slowdown and stimulate manufacturing activities.
Zhou Hao, a professor of the PBC School of Finance, which is part of Tsinghua University, said CBDCs could provide monetary authorities and governments a new means of economic stimulus through direct loans, which can improve the effectiveness of monetary policy.
BlackRock, the world's biggest asset manager, said it sees opportunities emerging in China's cyclical stocks that are set to benefit from more relaxed monetary and fiscal policies.
Huang Tao, an independent public relations expert, said: "To better develop the country's precision medicine industry, more monetary support is needed.
During the period, business confidence among SMEs was further restored, market expectations continued to improve, and cash strains were eased, said the association, citing China's pro-SME measures such as targeted monetary policies from the central bank that lowered financing pressures.
Demand for gold bars and coins rose by 50.91 percent year-on-year during the second half of last year, as a looser monetary policy and more volatile gold prices increased private investor interest in the yellow metal.
However, the asset quality of its domestic institutions will still remain under pressure, considering that China may tighten monetary policies amid the economic recovery and exit from policies supporting small businesses after the policies expire, and the impact of the pandemic could be delayed, said Chen Huaiyu, vice-president at Bank of China.
The International Monetary Fund predicted that China's economy may have expanded by 1.9 percent last year, a figure it has yet to confirm.
The International Monetary Fund predicts that China's economy expanded by 1.9 percent last year.
Under the terms of the DPA, Boeing's $2.5-billion fine is composed of a criminal monetary penalty of $243.6 million, compensation payments to Boeing's 737 MAX airline customers of $1.77 billion, and the establishment of a $500-million crash-victim beneficiaries fund to compensate the heirs, relatives, and legal beneficiaries of the 346 passengers who died in the Boeing 737 MAX crashes of Lion Air Flight 610 and Ethiopian Airlines Flight 302, according to the statement.
Baowu Steel said it will not incur any monetary costs on the deal as the stake transfer is a State-backed restructuring move, it said in a regulatory filing.
"There is no obvious legal basis for such a demand, particularly since there are no antitrust or other issues at play in this transaction," Prasad, also a former chief of the International Monetary Fund's China Division, told China Daily.
With one-third of the world's population forced to remain indoors, the International Monetary Fund has predicted that global growth will enter the deepest recession since the 1930s.
All of the monetary donations will be used to help underprivileged people in Guizhou province.
Investors on the Chinese mainland have been cheered by the easier monetary and fiscal policies.
Fen is a monetary unit of the Chinese currency, renminbi, and is worth one hundredth of a yuan.
"Although there has been recent loosening in policy, the tight monetary environment remains largely in place," Yang told The Investor.
BOC is the only bank from a developing economy in the Top 20 list based on the bank internationalization index in a report released by Zhejiang University's Academy of Internet Finance on Oct 25 in partnership with the International Monetary Institute of Renmin University of China.
To defend the peg, the Hong Kong Monetary Authority (HKMA), the city's de-facto central bank, buys local dollars if it gets too weak and sells to curb excessive strength.
The company is observing and studying the evolvement of China-US trade frictions and China's monetary policy responses.
""By relying on a monetary fine to deter Facebook, the FTC has failed to heed history's lessons.
"The commission should pursue deterrent monetary penalties and impose forceful accountability measures on Facebook.
The Hong Kong Monetary Authority (HKMA) on Thursday said it has granted virtual banking licenses to four new entities: Ant SME Services (Hong Kong), Ping An OneConnect, Infinium, and Insight Fintech HK.
"Last week, the International Monetary Fund revised up China's 2019 growth projection by 0.1 percentage point to 6.3 percent, citing factors including the recent developments in the China-US trade talks and China's stronger-than-expected expansionary fiscal policy.
This was due to a number of factors, including contracting global growth, which according to the January 2019 World Economic Outlook report by the International Monetary Fund, looks set to continue this year.
While the mainland version of Alipay is supervised by the People's Bank of China, the Hong Kong version is monitored by the Hong Kong Monetary Authority.
It said monetary policy would be "moderate" — neither too loose nor too tight in 2019, focusing on countercyclical adjustments.
The latter are guided by the monetary authority.
The country will unwaveringly promote high-quality development and ensure effective implementation of a proactive fiscal policy and prudent monetary policy, according to the statement released after the meeting.
Having been granted a stored-value facilities license by the Hong Kong Monetary Authority in 2016, WeChat Pay HK has been making great efforts to increase its presence in the international metropolis, racing for market share with e-commerce giant Alibaba's digital payment platform AlipayHK - both betting big on the market with a population of 7 million, which has long been dominated by Octopus cards.
"The government may introduce a number of policies to enlarge the domestic market and continue to adopt appropriate measures to ease its fiscal and monetary sector," said Zhang Jie, an analyst at Guotai Junan Securities.
These include the government capital injections, interest rate cuts and unprecedented expansionary fiscal and monetary policies.
But the phase of highly expansionary monetary policy－whether traditional or non-traditional－is over, and we expect that yield curves will move upward and get steeper.
There is also a focus on good monetary policy that will better balance debt levels.
Martin Lau, president of Tencent, said at a media briefing in Hong Kong on Wednesday that the company bets big on a faster payment system slated to be rolled out in Hong Kong by the Hong Kong Monetary Authority in September.
It also incorporates a lottery mechanism, allowing buyers to try their luck on monetary return upon every single deal.
"Overall asset income will face huge headwinds, as the world's major central banks start to tighten their monetary policy amid global economic recovery.
The International Monetary Fund (IMF) on Monday revised up China's growth forecast for 2017 and 2018 to 6.7 percent and 6.4 percent respectively.
Chinese property developers enjoyed a bumper year in 2016 due to strong sales and easing monetary policies, but runaway housing prices have prompted government cooling measures from October last year.
China should actively carry out monetary and financial cooperation with the region to facilitate cross-border business by all varieties of entities.
Orlik said China has the scope to keep monetary and fiscal policy supportive to help bolster recovery of the economy.
In the monetary realm, a further reduction in the reserve requirement ratio as well as policy rate cuts will be likely in the following months, he said.
Anticipating China's 2024 GDP growth to be about 5 percent, surpassing that of developed economies, the report is roughly in alignment with the International Monetary Fund's revised projections.
The underwhelming performance of the CPI over the past few months suggests certain challenges in maintaining price stability, and analysts said China's central bank may adopt a proactive approach, leveraging its monetary policy tools to further stimulate the economy and boost market confidence.
Looking ahead, he said the country still has scope to step up fiscal and monetary policy support this year, as the central government's debt level is not high and consumer price levels are low.
Multiple foreign institutes forecast that there is still enormous potential for China to leverage on fiscal or monetary policies.
Many analysts of foreign institutions believe there is still room for China's fiscal and monetary policies to exert force this year, and aim to be more positive overall.
There is also more room for monetary policy to operate, Liu said.
Assuming more policy relaxations in the housing sector, stepped-up fiscal support and further monetary easing moves, the Chinese economy could achieve a stable growth of 4.5 percent this year, Yao said.
Zou Lan, head of the PBOC's monetary policy department, told Xinhua News Agency that the central bank will use a comprehensive set of tools, including the medium-term lending facility and banks' required reserves, to provide solid support for social financing and credit expansion.
- China will boost the internationalization of the RMB, guard against systemic risks, and foster a sound monetary and financial environment, according to the country's central bank.
China will strengthen counter-cyclical and cross-cyclical adjustments, and create a good monetary and financial environment for high-quality economic development, according to the central bank.
In terms of monetary policy, it is anticipated that there is still ample room for reducing the reserve requirement ratio this year, enabling the release of more liquidity to support economic growth.
A variety of monetary policy tools will be used to maintain reasonable and sufficient liquidity, and keep the scale of social financing and money supply in line with expected targets for economic growth and price levels, the PBOC said in a statement.
It is necessary for the central government to break the negative cycle and strengthen support for the delivery of presold homes this year, perhaps with a monetary and fiscal package worth about 3 trillion yuan based on preliminary estimates, he said.
Lu added that the scope for China to ease monetary and fiscal policies is expanding, as downward pressures on the renminbi against the dollar have eased, with the US projected to enter a cycle of interest rate cuts this year.
The Central Economic Work Conference decided that proactive fiscal policies should be strengthened appropriately and their effectiveness improved, while prudent monetary policies should be flexible, moderate, precise and effective.
Experts said China will likely strengthen fiscal expansion and take accommodative monetary steps to jointly address the challenge of sufficient demand this year, helping further anchor price levels nationwide.
It is important for the nation to better coordinate fiscal and monetary policies, as well as economic and noneconomic policies, to prevent some restrictive noneconomic policies — including those on industrial regulation and environmental protection — from offsetting the positive effect of economic policies, he said.
Supporting the continued recovery in consumer spending would be the acceleration of new forms of consumption, including in the digital economy, green industries, healthcare and smart homes, said Wang, who is also a member of the Monetary Policy Committee of the People's Bank of China, the country's central bank.
When it comes to next year's monetary policy, he said the country will likely offer structural support for areas such as technological innovation, green transition, small and micro businesses, and the digital economy.
Monetary and fiscal policies will also be important in whetting demand appetite.
Last month, the International Monetary Fund raised its estimate for China's 2023 GDP growth to 5.4 percent from 5 percent.
Looking ahead, he said China still has plenty of room to step up fiscal and monetary policy support next year, as the central government's debt level is not high and consumer price levels are low.
"There is room for continued accommodative monetary and fiscal policies to support this growth level.
Meanwhile, there is a need to strengthen and improve macroeconomic regulation by implementing proactive fiscal policies and prudent monetary policy while strengthening the innovation and coordination of policy tools, the office said.
In addition, the traditional focus on "nominal economic growth rate "has been replaced with "expected targets for economic growth and price levels", which allows for a more comprehensive consideration of the objectives of economic growth and price stability and emphasizes the importance of price levels as a key target of monetary policy, the office said.
To further support China's going-global initiative and the BRI, the RMB internationalization should take advantage of the opportunities presented by the multipolar development of the international monetary system.
Apart from geopolitical risks, the likelihood of an economic recession from a global perspective, especially in the United States, and the US Federal Reserve's grip on US monetary policy, should not be overlooked when it comes to commodity markets' performance in 2024, experts said.
But as the Fed is seen softening its aggressive monetary tightening in the second half of 2024, the US and Chinese monetary policies may gradually follow the same direction.
On the other hand, any easing in US monetary policy would help elevate the prices of equity assets and benefit commodities.
The diverse nature of monetary policies in major developed economies in 2024, combined with China's economic recovery, may translate into rising demand in investment and consumption, thus driving up commodity prices, they said.
Given China's anticipated implementation of a proactive fiscal policy and a prudent monetary policy — as well as further moves to optimize property measures — Luo Zhiheng, chief economist at Yuekai Securities, said China's economy will likely expand by 5 percent next year, mainly driven by the growth in services, high-end manufacturing and infrastructure investment.
To bolster growth, the government is expected to uphold a moderately expansionary fiscal and monetary policy stance in 2024," noted the document, titled Which Way Forward?
The work conference called for efforts to ramp up countercyclical and cross-cyclical adjustments in macro policies and for efforts to continue implementing a proactive fiscal policy and prudent monetary policy, according to a statement released on Tuesday.
The forecasts for China's growth by the World Bank and the ADB are slightly higher than that predicted by the International Monetary Fund, which in its latest World Economic Outlook released in early October cut the country's GDP growth to 5 percent in 2023.
Han told an annual conference on the Chinese economy on Wednesday that China has plenty of room to step up fiscal and monetary policy support, as price levels are low and the central government's debt level is not high.
Han said the current price levels are relatively low, the central government's debt is not high, and there is significant room for fiscal and monetary policies.
Fiscal and monetary policies should be harmonized to achieve that goal, Gong said, stressing that there is an urgent need to reduce interest rate levels as subdued inflation intensifies corporates' real cost to service their debt, which has impeded their investment willingness.
The meeting said proactive fiscal policy should be appropriately strengthened and improved in quality and efficiency, while prudent monetary policy should be flexible, appropriate, precise and effective, CCTV reported.
On the monetary front, Zheng Houcheng, chief macroeconomist at Yingda Securities Co Ltd, said the stress on implementing flexible and appropriate monetary policy implies an overall accommodative policy stance for next year, though the strength of monetary easing may not exceed this year.
Countercyclical policies should prioritize employment, implement proactive fiscal measures, optimize spending intensity and structure, and explore further monetary policy adjustments.
The International Monetary Fund (IMF) on Thursday reiterated its upward revision of China's economic growth forecast for 2023 and 2024.
On top of exercising prudent monetary policy alongside accommodative fiscal measures, providing ample liquidity to businesses and reducing their costs, and efforts to maintain policy continuity are crucial for delivering a stable investment environment to enterprises and boosting their willingness to boost production, Cai said.