February 26, 2019 / 12:18 PM / 8 months ago

China central bank to encourage innovation in financial markets this year

FILE PHOTO: A woman walks past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, June 21, 2013. REUTERS/Jason Lee/File Photo

BEIJING (Reuters) - China’s central bank said on Tuesday that it will give guidance on macro-credit policy this year and encourage financial market innovation to boost the economy.

The role of the bond market in replenishing banks’ capital will be strengthened while bond financing by private and small firms will also be encouraged, the People’s Bank of China (PBOC)said in a statement on its website.

Fending off financial risk is still a difficult task, said the PBOC, adding that it will seek to step up risk controls over property financing, the gold market and commercial bill market.

Reporting by Stella Qiu and Beijing Monitoring Desk; Editing by Nick Macfie

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