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.
"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.
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.
