Stimulus ruled out as growth remains within target range

No aggressive policies are needed to boost the economy, as China's growth has been within the target range of around 7.5 percent, the central bank chief said on Friday.

"We don't have to roll out significant policies," Zhou Xiaochuan, governor of the People's Bank of China, said at the Boao Forum for Asia in Hainan province.

But he said the economic situation may require modest policy "fine-tuning", at a time when China's key inflation index was reported to be at a moderate 2.3 percent in the first quarter of the year.