The central bank of China assured that the #Yuan is the engine that keeps the global financial system together. The president of the People's Bank of China, Pan Gongsheng, told world leaders at the AlUla Conference for Emerging Market Economies in Saudi Arabia that, while other currencies are crumbling against the #dólar , which is on the rise, the Yuan has remained stable.

Pan said that China is moving away from relying on large infrastructure projects to drive growth and is instead focusing on domestic consumption. The government is increasing household incomes, offering subsidies, and implementing pro-consumption policies to keep the economy moving.