China’s 2025 economic path previewed as central bank pledges ‘supportive’ monetary policy

China’s central bank governor on Monday pledged a “supportive” monetary policy stance and vowed to enhance countercyclical adjustment with a variety of tools next year.

The comments made by Pan Gongsheng were the first signal of Beijing’s 2025 economic policies, with more expected to be discussed at the tone-setting annual central economic work conference this month.

Speaking at a financial forum in Beijing, Pan pledged to ensure adequate liquidity and lower overall financing costs for businesses and households.

The central bank would try to optimise structural monetary policy tools to support the stable development of the property and capital markets, while prioritising enhanced support for technological innovation, green finance and consumer finance, Pan said.

“We will actively advance reforms in the monetary policy framework, enhance the implementation and transmission of interest rate policy, and enrich the monetary policy toolbox,” he said, according to People’s Bank of China’s official website.