Business
2018.09.10 16:00 GMT+8

China to tune monetary policies based on financial situation

CGTN

China will continue to adopt prudent and neutral monetary policies, take targeted pre-adjustment and fine-tuning measures based on the financial situation and guard against a "black swan event," according to a State Council committee.

These measures, it said, will help keep market liquidity reasonable and abundant and the RMB exchange rate reasonable and stable.

At present, the macroeconomic situation in China is generally stable, the supply-side structural reforms continue to deepen and employment remains stable, the Financial Stability and Development Committee of the State Council reported after a meeting on Sept. 7.

It said that in order to better enhance the development of the real economy, China will increase policy support and strengthen coordination among the financial sector, the finance ministry and related development and reform departments.

China will also continue to effectively defuse various financial risks and avoid "a black swan event" (unpredictable event) so as to maintain a stable and healthy development of the stock market, bond market, and foreign exchange market.

Meanwhile, China will further promote reform and opening up in the financial sector and ensure that specific measures have been implemented. 

Also, more emphasis will be placed on strengthening the protection of property rights and intellectual property rights, creating a market environment of fair competition and stimulating the vitality of various market players, especially the private economy and entrepreneurs. 

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