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.
