CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

PBOC to continue loose monetary policy during next 6 months

07-09-2010 08:21 BJT

BEIJING, July 8 (Xinhua) -- China will continue its relatively loose monetary policy during the latter half of the year to maintain the consistency and stability of macro economic policies, the People' s Bank of China (PBOC), the central bank, said Thursday.

We will apply multiple monetary tools to maintain an appropriate growth in money supply, and adjust the credit structure to reduce risks, the PBOC said in an online statement, which disclosed the consensus reached by its monetary policy committee during the second-quarter meeting.

The PBOC reiterated it would improve the yuan' s exchange rate mechanism and adjust its value regarding a basket of foreign currencies.

It also vowed to ramp up risk-prevention efforts, to prompt the stable and healthy development of the nation' s financial system.

The PBOC said China' s economy was heading in an expected direction as a coordinated growth in domestic spending, investment and exports has propped up the economic upturn, but China also needs to grapple with tough challenges, including managing inflation expectations, maintaining a steady and fast economic growth, adjusting economic structures and transforming the growth mode.

Editor:Xiong Qu |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program