OREANDA-NEWS. January 15, 2013. The Monetary Policy Committee of the PBC convened its fourth quarterly meeting of 2012 in Beijing days ago, reported the press-centre of PBC.  

The participants analyzed current economic and financial situations at home and abroad. In their view, China’s real economy and the financial sector operated in a relatively smooth manner, as more positive factors emerged and the price situation was stable, while the global economy still showed signs of weakness with lingering uncertainties.

It was emphasized at the meeting that efforts should be made to implement the decisions adopted at the 18th National Congress of the Communist Party of China and the overall arrangements of the Central Economic Work Conference, closely monitor the domestic and global economic and financial developments and changes in cross-border capital flow, continue to implement a sound monetary policy, and strike a balance among maintaining stable growth, adjusting economic structure, containing inflation and preventing risks.

A mix of monetary policy tools will be leveraged to keep the money and credit aggregates and the all-system financing aggregates at reasonable volumes. Efforts will be made to optimize financial resources allocation, resolve structural imbalance in credit supply and demand, forestall financial risks and improve financial services to better serve the real economy. Direct financing will be further tapped to meet the diverse demand for investment and funding, and to promote sound development of the financial markets. The market-based reform of interest rates and the RMB exchange rate regime reform will be advanced steadily to keep the RMB exchange rate basically stable at an adaptive and equilibrium level.

Mr. Zhou Xiaochuan, Governor of the PBC and Chairman of the Monetary Policy Committee, chaired the meeting. Other Committee members present at the meeting included Mr. Li Yong, Ms. Hu Xiaolian, Mr. Yi Gang, Mr. Shang Fulin, Mr. Guo Shuqing, Mr. Xiang Junbo, Mr. Jiang Jianqing, Mr. Qian Yingyi, Mr. Chen Yulu, and Mr. Song Guoqing. Mr. You Quan, Mr. Zhu Zhixin, Mr. Du Jingfu and Mr. Ma Jiantang were absent from the meeting on business leaves. Presidents of the PBC Shenyang Branch, Chengdu Branch and Xi’an Branch joined the meeting as non-members.

The Monetary Policy Committee of the PBC convened its fourth quarterly meeting of 2012 in Beijing days ago.

The participants analyzed current economic and financial situations at home and abroad. In their view, China’s real economy and the financial sector operated in a relatively smooth manner, as more positive factors emerged and the price situation was stable, while the global economy still showed signs of weakness with lingering uncertainties.

It was emphasized at the meeting that efforts should be made to implement the decisions adopted at the 18th National Congress of the Communist Party of China and the overall arrangements of the Central Economic Work Conference, closely monitor the domestic and global economic and financial developments and changes in cross-border capital flow, continue to implement a sound monetary policy, and strike a balance among maintaining stable growth, adjusting economic structure, containing inflation and preventing risks. A mix of monetary policy tools will be leveraged to keep the money and credit aggregates and the all-system financing aggregates at reasonable volumes. Efforts will be made to optimize financial resources allocation, resolve structural imbalance in credit supply and demand, forestall financial risks and improve financial services to better serve the real economy. Direct financing will be further tapped to meet the diverse demand for investment and funding, and to promote sound development of the financial markets. The market-based reform of interest rates and the RMB exchange rate regime reform will be advanced steadily to keep the RMB exchange rate basically stable at an adaptive and equilibrium level.

Mr. Zhou Xiaochuan, Governor of the PBC and Chairman of the Monetary Policy Committee, chaired the meeting. Other Committee members present at the meeting included Mr. Li Yong, Ms. Hu Xiaolian, Mr. Yi Gang, Mr. Shang Fulin, Mr. Guo Shuqing, Mr. Xiang Junbo, Mr. Jiang Jianqing, Mr. Qian Yingyi, Mr. Chen Yulu, and Mr. Song Guoqing. Mr. You Quan, Mr. Zhu Zhixin, Mr. Du Jingfu and Mr. Ma Jiantang were absent from the meeting on business leaves. Presidents of the PBC Shenyang Branch, Chengdu Branch and Xi’an Branch joined the meeting as non-members.