China's economy will continue to recover in the second half of this year, and it is expected to achieve overall economic growth for 2020 with the pandemic impacts, says Yi Gang, governor of the People's Bank of China (PBOC), Xinhua reported on Sunday.

Thanks to its effective control of the pandemic, China now is the only major economy to have achieved economic growth in the second quarter, but the central bank also pays attention to some difficulties emerged in the recovery, such as the pressure on employment and on small and medium-sized enterprises, Yi said in the interview with Xinhua.

For the second half of this year, the central bank will ensure implementation of measures designed to support enterprises and secure jobs, he has said, noting that PBOC will use a variety of monetary policy tools to ensure M2 money supply and aggregate financing grow at notably higher rates than last year’s and to promote reasonable growth of medium- and long-term loans to small and micro-enterprises as well as the manufacturing industry.

The central bank also vows to hold the bottom line against financial risks and strengthen its emergency response mechanism.

Meanwhile, no matter how international environment changes, China will follow its own agenda and stick to financial system reforms and opening-up, he said.

China will continue to carry out the China-U.S. phase-one deal and implement reforms and opening-up measures which have been announced, including lifting share restriction in sectors including securities, fund management, futures, and life insurances.

"The globalization of RMB fares with a great momentum," Yi said, noting that in the first half of this year, the cross-border RMB settlement reached 12.7 trillion yuan with a 36.7-percent year-on-year growth and the RMB's share of global foreign exchange reserves hit a record of more than 2 percent.