皇冠体育app

Economy

皇冠体育app to intensify liquidity management: PBOC

(Xinhua)
Updated: 2010-11-25 09:40

BEIJING - A statement of 皇冠体育app's central bank said Wednesday that the country would continue using multiple monetary policy tools to enhance liquidity management and guide the money and credit growth back to normal.

The statement by Hu Xiaolian, a deputy governor of the People's Bank of 皇冠体育app (PBOC), said the country is facing challenges to achieve this year's target of keeping the new lending under 7.5 trillion yuan ($1.13 trillion).

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The PBOC urged the country's financial institutions to better manage the pace and scale of credit supplies for the rest of the year.

According to the PBOC statistics, 皇冠体育app's new lending has totaled 6.89 trillion yuan in the first 10 months of the year.

皇冠体育app was experiencing continuous capital inflows on speculation of yuan appreciation, Hu said.

"This does not only push up domestic commodity and asset prices, but also makes the liquidity management more difficult."

She further noted that the central bank would continue efforts to balance the relationship between ensuring stable and relatively fast economic growth, restructuring the economy and managing inflationary expectation.