The People’s Bank of China (PBOC) has outlined its key tasks and goals for 2021 after holding its annual meeting to set its policy agenda, vowing to boost green finance, push ahead with bond market reform, tighten oversight of fintech companies, and increase its participation in global governance, reported Caixin.
The central bank listed its priorities under 10 main categories covering a range of issues including monetary policy, controlling risks, offering support for companies and employment, and advancing yuan internationalization and interest-rate reform, according to a Wednesday readout of the meeting which was held Monday.
The agenda mostly echoes the decisions made by the Politburo, the Communist Party’s top decision-making body, at its meeting in December to agree economic work for 2021 and by the Central Economic Work Conference (CEWC) at its annual policy-setting meeting later that month, reported Caixin.
The central bank meeting last year put forward seven main points of action which included monetary policy, controlling financial risks, interest-rate reform, and fintech development and supervision. This year’s list has been expanded to 10 points of action with additional areas of focus that reflect the new priorities of the party or seek to address problems that emerged in 2020. These include green finance, global financial governance and reform of the bond market which was rocked by defaults and scandals in the second half of 2020.