PBOC Gov says will keep monetary policy prudent, support stable growth for real economy

<p>People's Bank of China Governor Pan Gongsheng quoted in state-backed financial media Securities Times </p><ul><li>
Shifting economic growth model is more important than pursuing high
growth rate</li><li>China's economy
continues to improve, 5% growth target expected to be successfully
achieved</li><li>China's economic
growth momentum improves recently, production and consumption recover
steadily, employment and consumer prices stable</li><li>Monetary policy will
pay more attention to cross-cyclical and counter-cyclical adjustments
in next stage</li><li>Will always keep
prudent monetary policy, support stable growth of real economy</li><li>Will provide a good
monetary and financial environment to stabilize price, promote
economic growth and expand employment</li></ul><p>—</p><p>Sticking to the line of 5% growth going to be done. The PBOC this year have not unleashed huge stimulus, same for fiscal authorities. Debt-fuelled growth in China is not something they want to add to … although other growth engines are slowish. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.