© Reuters. Headquarters of the People’s Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee/Files
SHANGHAI (Reuters) – China will continue to push real lending rates lower and reduce financing costs for small companies through targeted monetary policy tools, central bank vice governor, Fan Yifei, said on Thursday.
The People’s Bank of China will also make timely adjustments to policy tools and keep the yuan exchange rate basically stable to help exporters, Fan said.
Fan also said cryptocurrencies such as bitcoin and so-called “stablecoins” have become speculative tools that threaten financial and social stability. He vowed to make big efforts to promote PBOC’s own digital currency, the e-CNY.