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China's central bank stresses prudent monetary policy

Source:   Time:

BEIJING, Dec. 31 (Xinhua) -- China's continued prudent monetary policy will use monetary instruments pragmatically and maintain moderate liquidity to achieve reasonable growth in loans and private financing, the central bank said on Wednesday.

After the quarterly meeting of monetary policy committee, the People's Bank of China (PBoC) said the economy is running within a "proper range", but still faces complicated situations.

Improvements to the structure of financing and credit, to the financial system, and to the financial sector's interplay with the real economy are all still required.

The monetary policy committee also called for a market-oriented interest rate reform, and the renminbi's exchange rate reform to keep the rate at a reasonable equilibrium.

With the U.S. economy showing more positive signs, and the euro zone once again easing monetary policy, the real economies of some emerging markets are confronted with an array of difficulties.

The meeting said China will implement the policies decided by the central economic work conference for the following year and watch new developments in the domestic and international economy as well as changes in international capital flows.

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