6/2, 12:30 PM (Source: TeleTrader)
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PBoC: Prudent monetary policy to keep economy stable

The People's Bank of China Deputy Governor Pan Gongsheng (pictured) said on Thursday that additional implementation of a "prudent monetary policy" will strengthen its stabilizing effect on the nation's economy and help keep it "operating within a reasonable range."

The "fundamentals" of China's economic development have not changed "for a long time," but the economic environment is "facing a complex situation" along with new challenges that have emerged, he added at a press conference, according to Chinese media.

Chinese authorities have announced policy moves that aim to help small and micro businesses by creating a "long-term loan mechanism," as well as to make it easier for "foreign institutional investors to invest in the mainland bond market," Pan underlined.

Baha Breaking News (BBN) / MS