Prudent monetary policy to continue

Flexible approach may be used as economic conditions warrant, central bank head says

China will not change its prudent monetary policy stance, but would consider adopting a more flexible approach by tilting it toward either a tighter or more easing direction, a top central bank official said on Thursday.

Zhou Xiaochuan, governor of the People's Bank of China, said at a news conference during the annual meeting of the country's top legislature: "The Chinese economy is facing a 'new normal', or a new stage of slower growth than the past few years. But a new normal is still a normal situation, not something special or problematic. So we don't need a new term to define our monetary policy."