Nation stands firm on monetary policy

The latest interpretation of China's monetary policy by the governor of the People's Bank of China, the central bank, demonstrates the country's firm stance in upholding a flexible, open and inclusive macroeconomic policy to foster high-quality growth, analysts from home and abroad said.

The country's monetary policy must be subject to timely fine-tuning in a flexible and moderate way to meet changing economic conditions and to counterbalance the cyclical pressures of the economy, said Yi Gang, the central bank's governor, in an article published late on Monday.

When the economy is overheated or asset price bubbles emerge, proper tools should be employed to gradually reduce potential risks and achieve a "soft landing", Yi wrote in China Finance, a magazine affiliated with the central bank.