Arab Today, arab today china central bank vows effective policy coordination
Last Updated : GMT 21:53:08
Arab Today, arab today
Arab Today, arab today

China central bank vows effective policy coordination

Arab Today, arab today

Arab Today, arab today China central bank vows effective policy coordination

Beijing - XINHUA

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 stabilizing growth, advancing restructuring, promoting reforms and preventing risks,\" said a statement released on Sunday after a regular meeting of the People\'s Bank of China. The bank vowed to optimize 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. China on Sunday opened a pilot free trade zone in Shanghai, which will be a test bed for a wide range of market-oriented reforms, including easing restrictions on finance, investment and trade, a move widely hailed as a crucial step in the country\'s reform and opening up.

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