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    Chinese Central Bank to Continue Restrained Monetary Policy - Statement

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    The People’s Bank of China will further conduct a restrained monetary policy, as it was declared on the press conference of the financial institution's governor, Zhou Xiaochuan, on Friday.

    SHANGHAI (Sputnik) – The People’s Bank of China will continue pursuing a restrained monetary policy, the bank said in a press release circulated among journalists during the press conference of the financial institution's governor, Zhou Xiaochuan, on Friday.

    "China will continue to pursue a restrained monetary policy in a flexible and appropriate form, to provide liquidity at adequate levels and to maintain a reasonable growth of credit and financial resources," the press release stated.

    Addressing finance ministers and central bank heads of the Group of 20 (G20) countries, China’s central bank said it is still has room for monetary policy and a variety of tools to respond to potential risks.

    "China continues to improve the format of its monetary policy, consisting of a transition from quantitative measures to methods based on price changes. At the same time, our fiscal policy will be more proactive," it added.

    The bank reaffirmed the Chinese government’s focus on structural reforms to find a balance between economic growth, structural transformation and risk prevention.

    Market turmoil and a plummeting currency to uphold exports have plagued the Chinese economy, with last year’s gross domestic product amounting to the lowest annual showing in 25 years.

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    Tags:
    turmoil, finance minister, fiscal policy, risks, monetary policy, economic growth, credit, G20, People's Bank of China, Zhou Xiaochuan, China
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