China to keep prudent monetary policy
Print Edition
CHINA will continue its prudent monetary policy and maintain “moderate” liquidity so as to achieve reasonable growth in loans and social financing, the central bank said yesterday.
The People’s Bank of China will closely watch new developments in the domestic and international economy and finance, and changes in international capital flows, the central bank’s monetary policy committee concluded in its quarterly meeting.
The meeting called for improvements in the structure of financing and credit, deepened financial system reform, and enhanced capability of the financial sector to facilitate the real economy, according to the central bank.
The monetary policy committee also urged authorities to “further push forward market-oriented interest rate reform, and the yuan’s exchange rate reform to keep the exchange rate of the currency fundamentally stable at a reasonable and equilibrium level.”
The committee holds that China’s economy remains in the “proper range,” but it still faces complicated situations with favorable and unfavorable factors co-existing.
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