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PBOC: China to enhance liquidity management

11-25-2010 13:49 BJT

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China's central bank has taken measures to manage liquidity in the market. It says China will continue to use multiple monetary policy tools, to enhance liquidity management and guide money and credit growth back to normal.

A deputy governor of the People's Bank of China, Hu Xiaolian, says the country is facing challenges to this year's target of keeping new lending under 7.5 trillion yuan. Actual new lending in the first 10 months totaled nearly 6.9 trillion yuan. For new loans to be kept under the target, Chinese banks will only be able to lend at most 300 billion yuan, on average, for the next two months.

The central bank has taken measures including raising the required reserve ratio and interest rates, to tighten liquidity this year. But, the renminbi is expected to keep appreciating, and more international capital may still flow into China. Hu says these factors are making liquidity management difficult, and pushing up domestic commodity and asset prices.

The central bank is urging the country's financial institutions to better manage the pace and scale of credit supplies for the rest of the year. Hu further notes the central bank will continue efforts to balance stable and relatively fast economic growth, restructuring the economy and managing inflationary expectation.

Editor:Xiong Qu |Source: CNTV.CN

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