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The People's Bank of China (PBOC), the central bank, on Tuesday announced it "will continue to implement1 the prudent2 monetary3 policy, and improve the financial system's capability4 to serve the real economy".
中国人民银行周二宣布将“继续实施稳健的货币政策,提高金融体系的能力为实体经济服务”。
The PBOC did not change its monetary policy stance after the latest quarterly meeting of its monetary policy committee, saying China will pursue a "prudent and balanced" monetary policy with more attention to striking a balance between tight and loose.
China's economic and financial developments are stable on the whole, but the complexity5 of economic and financial operations should not be underestimated, the PBOC said in a statement.
The central bank will use multiple monetary policy tools in a flexible manner and maintain moderate liquidity6 in the market to ensure loans and social financing register reasonable growth.
The PBOC said it will work to improve reform of the financial system, enhance the system's operational efficiency, improve the structure of financing, increase the proportion of direct financing, and reduce the cost of social financing.
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