China's central bank has reiterated its commitment to a prudent monetary policy while also pledging to make its policy more targeted and coordinated to support the real economy.
"The central bank will fine-tune its policy in a timely and proper manner to seek a balance between stabilising growth, advancing restructuring, promoting reforms and preventing risks," reported Xinhua citing a statement released Sunday after a regular meeting of the People's Bank of China.
The bank vowed to optimise the distribution of financial resources to create a steady environment for China's ongoing economic restructuring and upgrading.
It also reiterated its pledge to push forward market-oriented reforms in its interest rate and exchange rate mechanisms.
The latest comments came amid the country's increasing efforts to deepen financial reforms.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app