Monday, August 18, 2008

People's Bank of China to balance inflation control, economic growth.

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People's Bank of China to balance inflation control, economic growth. According to news agency Xinhua , a recent report of the People's Bank of China (PBOC) said that the PBOC would aim to strike a balance between controlling inflation and stimulating economic growth during the rest of the year. The report said that China's economic growth was likely to remain steady in H2 owing to strong domestic demand, fast urbanisation and the upgrading of industrial structures. According to the report, the PBOC will make small changes in its monetary policy in H2 in response to domestic and external challenges. Financial institutions will be encouraged to increase credit supply to key industries, small enterprises, agriculture and organisations engaged in reconstruction work. The PBOC will also aim to tighten the supervision of foreign exchange flows.

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People's Bank of China to balance inflation control, economic growth.

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