China’s Economic Fundamentals Remain Sound: Cenbank

China’s economic fundamentals remain sound, the country’s central bank said in a statement on Friday as global markets fret over slowing growth in Asia’s powerhouse.

In a statement handed out at a central bank press conference held on the sidelines of a G20 meeting of central bank governors and finance ministers in Shanghai, the People’s Bank of China also said there are positive signs in the economy.

Central bank governor Zhou Xiaochuan said earlier that China still has more room and tools in its monetary policy to tackle downward pressure in the economy, and its fiscal policy will be more proactive.

Reuters

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.