China to maintain stable monetary policies: central bank governor

Zhou Xiaochuan, governor of China's central bank, the People's Bank of China (PBC), reacts at a press conference as the G20 Finance Ministers and Central Bank Governors Meeting opens in east China's Shanghai, on Feb. 26, 2016. China will continue to implement stable monetary policies, said Zhou Xiaochuan on Friday. (Xinhua/Pei Xin)

SHANGHAI, Feb. 26  -- China will continue to implement stable monetary policies, said Zhou Xiaochuan, governor of the People's Bank of China, on Friday.

China will not "overly" plan its macroeconomic polices based on exterior economic performance or capital flow, he said at the G20 Finance Ministers and Central Bank Governors Meeting in Shanghai.

China has consistently opposed competitive currency depreciation, which has been used by some countries to boost export strength, he said.

China has seen remarkable exports, and its goods trade surplus hit nearly 600 billion U.S. dollars last year, he said, adding that the country will not use "competitive depreciation" to boost its export capacity.