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China to continue prudent monetary policy next year

Source:   Time:

BEIJING, Dec. 14 (Xinhua) -- The People's Bank of China, the country's central bank, said Wednesday that China will continue its prudent monetary policy next year while making the policy more targeted, flexible and forward-looking.

The announcement came after the conclusion of the annual central economic work conference Wednesday morning, which has set economic policy guidelines for the coming year.

The central bank will maintain control over the intensity, pace and focus of macroeconomic regulation, make full use of monetary tools, tune up credit supply and promote reasonable growth in social financing, according to a statement posted on its website.

The bank will improve credit structure, increase support to key sectors and weak areas, especially to agriculture, small and medium-sized enterprises and affordable housing construction, as well as better serve the real economy.

It will continue to perfect its yuan exchange rate formation mechanism, and keep the yuan exchange rates basically stable at a reasonable and balanced level.

Meanwhile, the bank will strengthen and improve its foreign exchange management, deepen financial system reforms, prevent and solve financial risks, the statement said.

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