PBOC assures continued support for economy

Stimulus won't be pared down despite recent uptick in recovery momentum

The People's Bank of China, the country's central bank, assured the capital market on Wednesday that it will continue to beef up support for economic recovery and would not pare down stimulus measures despite the recent uptick in recovery momentum.

Experts said credit policies are likely to further ease with new structural tools set to be launched in the fourth quarter to consolidate the nascent recovery of the property market, while the central bank may prudently cut the reserve requirement ratio and interest rates if needed.

The PBOC said in a statement on Wednesday that it will continuously support the real economy and strengthen policy adjustments as the country's economic recovery is improving, but still faces a harsher external environment.