China’s central bank and finance ministry have come together for their first joint working group meeting on treasury bond trade, signaling a closer coordination of monetary and fiscal policies. This collaboration comes as Beijing works towards achieving its annual economic growth target of around 5 per cent.
The meeting also involved discussions on China’s bond market development, with a commitment to creating the right environment for government bond trade, as stated by the People’s Bank of China.
Furthermore, the Ministry of Finance is planning a press conference to discuss efforts towards strengthening countercyclical adjustments of fiscal policy and promoting economic development. Finance minister Lan Foan will provide insights and address questions during the briefing.
Amid these efforts, Beijing has increased the issuance of long-term government bonds to support the economy.