China will continue to pursue a prudent monetary policy in the
coming months, aiming to keep the yuan exchange rate stable at a
reasonable and balanced level, said the central bank?on
Monday.
China would further improve its monetary policy, making it more
scientific and more effective in preserving the stability of the
RMB, according to a meeting of the monetary policy commission of
the People's Bank of China.
The monetary policy commission usually convenes at the end of
each quarter to discuss the macro-economic situation and make
suggestions about monetary policy for the coming months.
In the first few months of next year, China should restrict loan
growth to a reasonable pace and optimize loan structure, said the
commission.
Besides stabilizing RMB prices, the monetary policy also aims to
expand domestic consumption, prevent investment from growing too
fast, and promote an international payment balance, said the
commission.
(Xinhua News Agency December 26, 2006)