China’s central bank and finance ministry has held their first joint working group meeting on the treasury bond trade, a sign of closer monetary and fiscal policy coordination as Beijing strives to achieve its “around 5 per cent” annual economic growth target.
The two sides also exchanged views on China’s bond market development, vowing to provide “appropriate environment” for government bond trade, according to a statement from the People’s Bank of China on Wednesday.
Separately, the Ministry of Finance is set to convene a press conference on Saturday to introduce work on strengthening countercyclical adjustments of fiscal policy and promoting economic development.
Finance minister Lan Foan is expected to brief the media and take questions.
Beijing had already resorted to issuing more long-term government bonds to help fund the economy.
