The building of the People’s Bank of China in Beijing Photo: VCG

The People’s Bank of China (PBC), the central bank, said on Monday that China’s financial market is operating smoothly and has not been affected by US monetary policy.

The comment came after the US said it would maintain its loose monetary policy until at least the end of 2023, in a bid to support its economic recovery and labor market. The US Federal Reserve reiterated that it would keep its benchmark interest rate near zero and continue to pump liquidity into financial markets. 

Affected by the market’s expectations of the US monetary policy situation, global financial markets, especially in some emerging economies, have experienced some volatility recently. 

China’s financial market is operating steadily, the RMB exchange rate is floating in both directions, and China’s 10-year treasury bond yield has remained at around 3.2 percent, a decline from the…

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