The PBOC, in a statement on its RMB exchange-rate policy stance, said China will
firmly implement strategic priorities under the 15th Five-Year Plan and press
ahead with a shift in the growth model toward domestic-demand-led expansion.
Authorities will boost consumption, expand effective investment combining
physical and human-capital spending, strengthen the domestic circulation and
smooth domestic-international dual circulation, and improve the business
environment to ensure fair competition. The statement stresses greater emphasis
on tech-driven productivity gains, raising household disposable income, and
enhancing income distribution and social-security systems. It also pledges
steady expansion of high-level opening to become a core global demand market and
stronger participation in international economic and financial cooperation and
global financial governance reforms to help safeguard global economic and
financial stability.
