China's central bank to promote steady, healthy development of financial market

BEIJING - China's central bank will promote the steady and healthy development of the financial market and foster a sound monetary and financial environment.

The People's Bank of China made the remarks Tuesday in response to recent financial market fluctuations which are mainly driven by investor expectations and sentiment.

China's financial system has been coordinating COVID-19 control with economic and social development, smoothening logistics as well as industrial and supply chains, the bank said.

To advance the healthy development of the platform economy, the rectification work of large platform companies will be steadily promoted, according to the central bank.

The central bank will step up its prudent monetary policy to support the real economy, especially industries, micro, small and medium-sized enterprises, and individual businesses that are badly affected by the epidemic.

Meanwhile, special reloans will be issued in sectors including sci-tech innovation, elderly care, energy, agriculture and civil aviation, while maintaining reasonably sufficient liquidity in the market, the bank said.