The People's Bank of China will support the real economy

According to the chairman of the People's Bank of China (PBOC) Pan Gongsheng, the central bank will step up support for the real economy, protect against systemic financial risks and deepen financial openness. This is reported by Xinhua News Agency, a partner of the TV BRICS.

He also promised to make efforts to keep interest rates at an appropriate level.

Pan Gongsheng said the PBOC will improve financial risk prevention, avoidance and management mechanisms.

The PBOC will promote the internationalisation of the RMB, promote trade and investment facilitation.

China will actively participate in global financial governance and co-operation to "increase its influence in the formulation of major international financial rules and standards", he added.