Source: CCTV.com

04-01-2008 08:49

The Central Bank says that it will keep to tight monetary policies. A main concern is to keep a lid on inflation and liquidity growth, in the face of volatility in world markets.

The Central Bank says that it will keep to tight monetary  policies. A main concern is to keep a lid on inflation and liquidity growth, in the face of volatility in world markets.

The People's Bank of China says it will use policies in a measured manner. The bank is facing conflicting pressures as it works to keep prices down while maintaining strong economic growth.

The People's Bank of China was reporting on conclusions reached at its first-quarter committee meeting on monetary policy. It says it's focusing on stopping prices from rising too fast. But it's also stressed that the current economic situation is fundamentally sound and stable.

The central bank also reiterated its long-standing stance that it will let the yuan be guided more by market forces, while keeping it basically stable.

The currency strengthened by 4.17 percent against the US dollar in the first quarter, by far the quickest pace since its landmark July 2005 revaluation.

The central bank says that it will step up its checks over cross-border capital flows and bring more balance to China's international payments.

Editor:Xiong Qu