Stable financial markets echo long-term confidence in China: official

Source: Xinhua| 2020-02-14 19:33:50|Editor: huaxia

BEIJING, Feb. 14 (Xinhua) -- Investors are showing confidence in China's long-term economic growth as financial markets steadied after initial jitters over the novel coronavirus outbreak, a central bank official said.

Liquidity remains ample with stable low-interest rates in the monetary market, while epidemic-related bonds are well received by investors, Peng Lifeng, an official with the People's Bank of China, told a press conference Friday.

The country's A-share market plunged on Feb. 3, the first trading day after the Spring Festival, but has been regaining early losses, with the benchmark Shanghai Composite Index scoring eight rallies in the past nine trading days.

The financial markets are sensitive to short-term impacts, but will readjust to stay in line with longer-term trends, Peng said, adding that the market performance in the past two weeks is rational investors' vote of confidence for China's future economic growth.

"China's sound economic fundamentals for long-term and high-quality growth remain unchanged despite the temporary epidemic," he said.