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China to maintain continuity, stability of monetary policy

Updated: Feb 17,2018 9:22 AM     Xinhua

BEIJING — China will maintain continuity and stability in monetary policy, the country’s central bank said in a report.

China will continue its prudent and neutral monetary policy, maintain reasonable and stable liquidity, and control the floodgates of money supply to facilitate supply-side structural reform, the People’s Bank of China (PBOC) said in a lengthy report on the implementation of monetary policy in the fourth quarter of 2017.

The “twin pillar” regulatory framework, which involves the use of both monetary tools and macro-prudential regulation, will be improved.

The PBOC listed three major tasks, namely serving the real economy, preventing risks, and financial reform.

The financial reform and opening up will play a bigger role in serving the real economy and encouraging innovation.

Reform will be deepened in interest rate and foreign exchange markets while inclusive finance will be promoted.

The PBOC stressed financial supervision, vowing to safeguard the bottom line so that no systemic risks occur.