PBOC MPC met Sept. 19 (Q3, 114th meeting) and directed large banks to serve as the main providers of credit to the real economy, urged small banks to focus on core businesses and called for stronger bank capital. The committee said authorities will deploy and refine structural monetary-policy tools, intensify targeted financial support for expanding domestic demand, technological innovation, small and micro enterprises and construction of six major networks, and continue support for private-sect

PBOC MPC met Sept. 19 (Q3, 114th meeting) and directed large banks to serve as the main providers of credit to the real economy, urged small banks to focus on core businesses and called for stronger bank capital. The committee said authorities will deploy and refine structural monetary-policy tools, intensify targeted financial support for expanding domestic demand, technological innovation, small and micro enterprises and construction of six major networks, and continue support for private-sector growth. It also stressed maintaining financial-market stability and advancing high-level two-way financial opening while improving risk-management and macroprudential capacity under greater openness.