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China central bank to maintain prudent, neutral monetary policy

Updated: Jun 29,2018 9:14 AM     Xinhua

BEIJING — China’s central bank said on June 28 that it will continue to implement the prudent and neutral monetary policy and keep liquidity at a reasonable and ample level.

The People’s Bank of China (PBOC) will maintain control over the floodgates of monetary supply and guide reasonable growth in credit and social financing, it said in a statement issued after a quarterly meeting of the monetary policy committee.

It will continue to deepen reform of the financial system and improve the “two-pillar” policy framework that includes monetary policy and macro-prudential policy, the statement said.

It will optimize financing and credit structure so that the real economy can be better served.

China maintains sound economic fundamentals, with resilient growth and balanced supply and demand, the statement said.

Domestic demand is increasingly driving growth and the economy’s dependency on foreign trade has dropped significantly, resulting in a stronger ability for the country to counter external shocks, the statement said.