Concerns on growth dispelled

Central bank chief says there are many policy tools at hand to shore up China's economy

China's central bank Governor Zhou Xiaochuan said on Friday that the country still has some monetary policy tools to shore up economic growth, and that the government isn't worried about decreasing foreign exchange reserves.

"Given the current Chinese and global economy, our monetary policy is now prudent and relatively accommodative," Zhou said before the two-day Group of 20 central bankers and finance ministers meeting, which opened on Friday evening in Shanghai.