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January 7, 2017

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China’s monetary policy to be prudent and neutral

CHINA’S monetary policy will be kept prudent and neutral in 2017, said a central bank statement issued yesterday, echoing the tone set at the Central Economic Work Conference.

In the statement issued after a work conference, the People’s Bank of China also promised better adjustments of the monetary floodgates to ensure stable liquidity.

Financial services should fit in with the need to advance supply-side structural reforms, while strengthening support for national strategies such as capacity cuts, industrial restructuring and Beijing-Tianjin-Hebei Coordinated Development, the PBOC said.

It also said it would deepen financial system reforms, and improve policies and other conditions for the yuan’s globalization.


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