Policy banks focus of meeting

Three institutions could be given more responsibility in stabilizing economy

Chinese policy banks could play a bigger role in launching supportive measures to stabilize the economy in coordination with prudent monetary policy and proactive fiscal measures, according to analysts.

A meeting on Sunday of the State Council's Office of Financial Stability and Development Committee - the country's top financial regulatory body - highlighted efforts to further reform the policy banks and improve their governance mechanism to step up countercyclical measures and spur economic growth, a statement released after the meeting said.