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China will implement a prudent monetary
policy that is flexible, precise, reasonable and moderate, and keep it
consistent, stable and sustainable, the central bank said. In
a statement released after a quarterly meeting of its monetary policy
committee held Friday, the People's Bank of China (PBOC), the central
bank, said that it will pay attention to the ideal timing, extent and
impact of policies and maintain the necessary support for economic
recovery. The PBOC will use a variety
of monetary tools to ensure liquidity at a reasonable and ample level
and keep the growth of money supply and social financing basically in
line with nominal economic growth and maintain a basically stable macro
leverage ratio, according to the statement. It
also vowed further monetary support for the real economy, stressing
more financial aid for small and micro firms as well as those involved
in technological innovation and green development. The
central bank pledged to promote high-level two-way financial opening
and improve its management and risk control capabilities.
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