PBOC keeps easy monetary stance for growth
Source: Xinhua |
June 9, 2010, Wednesday
|
Print Edition
Print Edition
CHINA'S central bank yesterday reiterated it would continue to implement the relatively easy monetary policy according to changing situations as it presses ahead to transform development as well as reinforce the country's sound and relatively fast economic growth.
The Chinese economy is set to remain stable while seeing a relatively quick expansion this year, in general.
However, the foundation of the recovery is not solid, the People's Bank of China said in a report focusing on the country's regional financial operations.
Further, the report stated that China still needed to improve its innovative ability while continuing to stimulate consumer spending as well as optimizing the country's economic structure amid tough emission cutting targets.
Additionally, the report noted the potential fiscal risk should not be overlooked. Many uncertainties, including the widening European sovereign debt crisis, trade frictions and the stimulus exit, would have a significant impact on China's economy.
The Chinese economy is set to remain stable while seeing a relatively quick expansion this year, in general.
However, the foundation of the recovery is not solid, the People's Bank of China said in a report focusing on the country's regional financial operations.
Further, the report stated that China still needed to improve its innovative ability while continuing to stimulate consumer spending as well as optimizing the country's economic structure amid tough emission cutting targets.
Additionally, the report noted the potential fiscal risk should not be overlooked. Many uncertainties, including the widening European sovereign debt crisis, trade frictions and the stimulus exit, would have a significant impact on China's economy.
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