The central bank will employ the "significant role" of the adjustment mechanism and improve the market-based formation of interest rates to promote a reduction in corporate financing costs, according to the policy report.
China is expected to deepen deposit rate reforms to lower corporate financing costs as part of the central bank s efforts to strike a balance between stabilizing economic growth and guarding against the risk of capital outflows, economic experts said on Tuesday.
The remarks came after the People s Bank of China, the country s central bank, said it had guided banks to form a market-based adjustment mechanism of deposit rates last month, helping send the weighted average deposit rate in the last week of April to 2.37 percent, down 0.1 percentage point from a week earlier.
China s total imports and exports expanded 7.9 percent year on year to 12.58 trillion yuan in the first four months of 2022, official data showed Monday.
Exports grew 10.3 percent year on year to 6.97 trillion yuan, while imports rose 5 percent to 5.61 trillion yuan in the January-April period, leading to a trade surplus of 1.36 trillion yuan, the data showed.
In U.S. dollar terms, total foreign trade came in at 1.98 trillion U.S. dollars in the period, up 10.1 percent year on year, according to the General Administration of Customs.
In April alone, the country s foreign trade volume edged up 0.1 percent year on year to 3.16 trillion yuan, with the exports up 1.9 percent year on year while imports dropping by 2 percent from a year ago.
国家发改委、商务部近日公布《鼓励外商投资产业目录(2022年版)(征求意见稿)》。 China will further expand the industry catalog of sectors encouraging foreign investment, authorities said. The increase is particularly relevant to items related to manufacturing, producer services and those in the central and western regions.该产业目录持续鼓励外资投向制造业与生产性服务业，持续鼓励外资投向中西部和东北地区。 The new list will add 238 more items, while up to 114 existing ones will be modified, according to the new notice. 与2020年版相比，新版目录增加238条，修改114条（主要是扩展原条目涵盖领域）。 国家发改委表示，此次修订总体考虑是条目上“总量增加、结构优化”。 Foreign direct investment into the Chinese mainland in terms of actual use expanded 25.6 percent year-on-year to 379.87 billion yuan in the first quarter.商务部数据显示，今年一季度全国实际使用外资3798.7亿元人民币，同比增长25.6%。
China will likely meet its annual growth target of around 5.5 percent this year with the help of the government s effective measures to control COVID-19 outbreaks and stabilize market expectations, economists and experts said.
Despite facing mounting pressure from a resurgence in domestic COVID-19 cases and a complicated and grim external environment, they believe the country has plenty of policy tools to stabilize the overall economy, while the impact of outbreaks is likely to be temporary.