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China Daily / 2021-06 / 11 / Page013

PBOC stresses steady policy, stable prices

By CHEN JIA | China Daily | Updated: 2021-06-11 00:00

Measures aimed at ensuring economy operates within reasonable range

China will strive to maintain a stable monetary policy, ensure that prices remain normal and the economy operates within a reasonable range close to its potential level of output, the central bank governor said on Thursday.

Yi Gang, governor of the People's Bank of China, said the country's monetary policy, which focuses on the cross-cyclical balance between supply and demand, needs to factor in inflation concerns due to an aging population and the transition toward a low-carbon economic growth pattern.

According to Yi, interest rates in China are currently at an appropriate level, but higher than that in most of the major developed economies, though lower than those in developing and emerging economies. China's interest rate reform will continue by taking full advantage of the loan prime rate system, he said.

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