It’s beneficial both to the country and to the people. Although China’s bankcard industry has developed greatly, there is still a long way to become abreast with the need of building a socialist market economy. It’s no easy job to change the traditional habit of using cash. Relevant government should spare no efforts to jointly create a favorable social environment.
To this end, the Bank will purchase Japanese government bonds (JGBs) so that its holding of their amount outstanding on its balance sheet will increase at an annual pace of about 50 trillion yen.