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PBOC to monitor economic trends

The central bank has vowed to keep a close eye on global and domestic economic, financial trends, enhance its forecasting capability and fine-tuning of its forward-looking policies. According to a statement from the People's Bank of China's monetary policy committee on Thursday, the PBOC will maintain a prudent and neutral monetary policy, control the total money supply and maintain reasonable and sufficient stocks of liquidity. The PBOC will also guide reasonable growth of credit and total social financing, to further deepen financial reforms. "Strong domestic demand will continue to drive economic growth, while the dependency on trade has weakened remarkably on better capabilities of dealing with external shocks," said the statement.

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