PBOC’s Yi: Overall financial risks are contained

People's Bank of China (PBOC) Governor Yi Gang is on the wires now, via Reuters, speaking about the monetary policy and economy.

Key Quotes:

Overall financial risks are contained.

Overall financing costs for firms down 1% from last year.

Foreign ownership cap in finance to be lifted by end 2020.

Risks in shadow banking, some key institutions resolved.

Monetary policy aims to serve the domestic economy.

• PBOC: Have ample monetary policy tools