BUSINESS China's central bank vows to keep monetary policy consistent

BUSINESS

China's central bank vows to keep monetary policy consistent

Xinhua

13:44, December 30, 2020

The People's Bank of China. (Photo: Agencies)

BEIJING - 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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