PBOC’s Pan vows more substantial support to real economy

The People’s Bank of China (PBoC) Governor and head of the State Administration of Foreign Exchange, Pan Gongsheng spoke over the weekend at the International Monetary Fund meeting in Morocco.

Key quotes

“Positive factors in China’s economic operation are accumulating and the bright spots have increased, and are expected to improve.”

“Vowed to provide more substantial support to the real economy.”

“The PBOC will provide continuous support to ride the uptick in economic momentum.”

“To expand domestic demand, boost expectations and provide more substantial support for the real economy.”

Market reaction

At the time of writing, AUD/USD is trading at 0.6311, up 0.24% on the day.