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|Monday, April 23, 2001, updated at 07:49(GMT+8)|
China to Maintain Stable Monetary PolicyChina's top financial official pledge to continue the current stable monetary policy in a bid to stimulate domestic demand and maintain the economic growth.
Dai Xianglong, governor of the People's Bank of China and chairman to the Monetary Policy Commission, made the remarks at the commission's second quater regular meeting.
He said the current monetary policy has played a vital role in retaining the 8.1 percent year-on-year economic growth in the first quarter this year, by employing more monetary policy tools and moderately increasing the amount of money supply which successfully channeled the loan.
The official said his bank will keep a stable interest rate and market exchange rate of Renminbi.
In addition, the central bank will improve its financial service to small and medium-sized enterprises to ensure their healthy development, and promote the coordination of a monetary market and a capital market. Also, the supervision of credit will be further strengthened.
Present at the meeting are commissioners of the Monetary Policy Commission and the new comer Zhu Zhixin, director of the National Bureau of Statistics which was recently approved by the State Council to be a member of the commission.
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