In China, local financial authorities on Wednesday, December 20, decided to keep benchmark lending rates at a monthly level, which corresponds to preliminary market expectations and is a predictable action that does not go beyond the most likely scenarios.
Pan Gongsheng, governor of the People’s Bank of China, said that at present, high-quality and sustainable growth is the most important for this country in terms of priorities related to the economic system.
Record cash infusion can help rates in China to remain low, motivating lenders to support a higher issuance of government bonds and make more loans to clients.
The head of the central bank of China announced his intention to open up the country’s financial industry to closer cooperation with foreign companies and make the local business environment favorable for the activities of brands from other states.
The Central Bank of China has appealed to the local financial sector to provide material support, in this case, it means providing money, in conducting research in the area of technology and implementing mergers and acquisitions.
The Chinese Payment Association, whose activities are carried out at the expense of state funding, announced the potential danger of using generative artificial intelligence tools.
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