PBOC sticks to monetary goals

The central bank will stick to an appropriately easy monetary policy but will ensure reasonable growth in money and credit, the People's Bank of China (PBOC) said yesterday.

In a summary of the conclusions drawn at its second-quarter monetary policy committee meeting, the central bank said yesterday that it would ensure reasonable growth in money and credit but would strictly control lending to polluting, energy-intensive industries.

The slight shift in tone, as analysts pointed out, is in line with an earlier notice by the banking regulator, which asked banks not to resort to excessive lending to meet targets, but rather focus on strengthening credit management.