PBOC to curb price rise

The People's Bank of China vowed on Friday that it would take "forceful" measures to curb excessive price rises and enhance monitoring of cross-border capital flows.

It will also try to improve the assets market and try to prevent drastic fluctuation of assets prices, the central bank said in the annual financial stability report reviewing last year's financial and economic developments.

The stock market has dived in the past week. On Friday it closed at a 15-month low. The top leaders, including President Hu Jintao and Premier Wen Jiabao, said in a meeting on the same day that the country will promote the healthy development of the capital markets and prevent inflation from worsening, according to State radio report.