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China to continue current monetary policy

(People's Daily)

10:39, October 28, 2011

Edited and translated by Han Shasha, People's Daily Online

In light of China's economic situation, the country will continue to carry out the current monetary and fiscal policies, said Zhou Xiaochuan, governor of the People's Bank of China, recently.

In addition to properly implementing the policies, the central bank should be wary of whether or not the international economy will face unexpected or worse-than-expected problems. He said that China's current monetary policy should be flexible and pertinent enough to cope with a possible bad situation.

Zhou made the remarks in an interview during the 24th Ministerial Plenary Meeting of the International Monetary and Financial Committee held by the International Monetary Fund.

A reporter asked Zhou which issue he was most concerned about: growth or inflation. Zhou said that China's central bank mainly have four major functions: to keep inflation low, to promote economic growth, to ensure employment and to maintain the international balance of payments. The central bank has always paid equal attention to the four goals at the same time and will not focus on only one goal to the exclusion of others.

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