Guidance, not control, says central bank's Zhu

Reining in credit 'an appropriate response'

DAVOS, Switzerland: China's central bank stands ready to take more steps this year to ensure rapid lending growth does not cause the economy to overheat, a senior official said on Saturday.

Zhu Min, deputy governor of the People's Bank of China, also said recent steps to rein in credit were an appropriate response to that problem and did not signal a departure from the country's relatively loose policy stance.