News Article

China's monetary policy is likely to remain accommodative — and further easing might ensue if economic recovery fails to maintain the momentum gained from the solid first-quarter performance, according to officials and experts.

The guide highlights that no IDs are required for transactions under a certain amount when foreign visitors use mobile payment services such as Alipay, Weixin Pay and UnionPay, and some international e-wallets are accepted by merchants in China.

China witnessed a net inflow of foreign investment last year even amid challenges posed by overseas central banks' interest rate hikes, official data showed.

The People's Bank of China, the country's central bank, will lower the reserve requirement ratio by 0.5 percentage points, effective on Feb. 5, Pan Gongsheng, its governor, said at a press conference on 24th of Jan. 

China's central bank is likely to further expand the size of a targeted funding tool — pledged supplementary lending — to proactively back the struggling property sector, experts said.