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  Russell Publishing Ltd
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2010 is key says China central bank chief

publication date: Jan 5, 2010
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China's central bank governor has called 2010 a key year in China's fight to overcome the financial crisis. The head of the People's Bank of China, Zhou Xiaochuan, said in a message to employees that its credit policy next year would be a relaxed one.

 

China is, in fact, one of the countries least affected by the global financial crisis, analysts point out. Its own economy grew by about 9% last year, as many other key world economies were in recession.

 

They are still expected to struggle to make growth, whereas China says it will grow by 8% this year. That has been its target for some years - and one that it has consistently overshot.

 

The bank would also offer financial support to areas of the economy that promote the expansion of domestic demand, help the agricultural sector and help China move towards sustainable development, Mr Zhou said.