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The People's Bank of China holds its mid-year meeting in Beijing, China, August 1, 2025. /PBOC official website
China's central bank on Friday pledged to step up its implementation of a moderately loose monetary policy and strengthen support for sci-tech innovation and consumption in the second half of the year.
The People's Bank of China (PBOC) said that financial support for economic growth, structural transformation and high-quality development has increased since the start of 2025 during its mid-year meeting.
Participants test their prototype at a low-altitude aircraft competition at the 2025 Yangtze River Delta (Kunshan) Embodied Intelligence Scenario Application Contest, Suzhou, Jiangsu Province, August 1, 2025. /VCG
As of the end of June, loans granted in the technology, green development and elderly care sectors had risen by 12.5 percent, 25.5 percent and 43 percent, respectively, year on year.
The PBOC is committed to accelerating loan growth to small and medium-sized technology enterprises in a bid to support industrial upgrading.
Meanwhile, the central bank will actively promote cross-border investment and financing, while stepping up efforts to enhance the construction and application of Chinese renminbi (RMB) digital infrastructure.
(With inputs from Xinhua)