China's Central Bank Unveils Forceful Measures to Bolster Economy

The bank pledges to use a variety of monetary tools to ensure liquidity, resolve local debt risks, and support domestic demand amid global economic challenges.

• China's central bank has pledged to use forceful and targeted monetary policy to support domestic demand.
• The bank plans to use a variety of monetary tools to ensure sufficient liquidity and fend off systemic risks to the economy.
• The central bank has stated that it will guide financial institutions to resolve local debt risks.
• Despite gaining momentum, China's economy faces challenges such as an imbalanced global economic recovery and an unstable foundation for domestic economic recovery.
• The bank aims to keep the yuan 'basically stable' and foster a sound monetary and financial environment.

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