Prudent monetary policy to continue, PBOC says

China will maintain a prudent monetary policy in the year's second half, with potential policy adjustments depending mainly on the domestic economic situation and price levels, a senior central bank official said on Friday.

Having noticed the recent monetary easing in some foreign central banks and the United States Federal Reserve's strong message that it will make a cut later in the policy rate, the Chinese central bank has decided not to change its monetary policy stance, while continually reducing the actual financing costs of enterprises, said Sun Guofeng, head of the monetary policy department of the People's Bank of China, the central bank.

"In the second half, we will maintain the liquidity at a reasonably ample level through leveraging diversified tools and strengthening macroeconomic policy coordination," said Sun, adding that moderate money supply growth can support the country's high-quality economic growth.