OREANDA-NEWS. January 17, 2014. Several days ago, the Monetary Policy Committee of the People’s Bank of China held its 4th quarterly regular meeting in Beijing.

The participants discussed the current economic and financial situations at home and abroad and were of the view that performance of the financial sector and real economy in China was generally sound, and the price situation was basically stable, despite many difficulties and challenges; the global economy was expected to continue a slow recovery trend but also faced some unstable and uncertain factors.

It was emphasized at the meeting that to implement the decisions of the 18th CPC National Congress, the 3rd Plenary Session of the 18th CPC Central Committee and the Central Economic Work Conference, the latest developments in the financial market and real sector at home and abroad and the changes in international capital market will be closely monitored; in accordance with the general requirements of seeking progress while maintaining stability and carrying on reform and innovation, efforts will be made to continue the sound monetary policy, maintain appropriate liquidity, guide money, credit and the all-system financing aggregates to grow at a proper pace, and optimize the financing and credit structure. In the meantime, efforts will be made to integrate reform measures into macroeconomic regulation, and enhance the efficiency of financial sector operation and its ability to serve the real economy. The market-based interest rate reform and the RMB exchange rate regime reform will be furthered to keep the RMB exchange rate basically stable at an adaptive and equilibrium level.

Chaired by Zhou Xiaochuan, Chairman of the Committee and Governor of the People’s Bank of China, the meeting was attended by Committee members including Xiao Jie, Zhu Zhixin, Wang Baoan, Hu Xiaolian, Yi Gang, Pan Gongsheng, Shang Fulin, Xiao Gang, Xiang Junbo, Hu Huaibang, Qian Yingyi, Chen Yulu, and Song Guoqing. Ma Jiantang was on business leave. Senior officials from the PBC’s Operation Office, Tianjin and Nanjing branches attended the meeting as observers.