China To Continue Prudent Monetary Policy In H2

(RTTNews) - China will continue its prudent monetary policy stance in the second quarter, the People's Bank of China said Friday.

The central bank said it will ensure adequate liquidity and will adopt various policy tools. The bank added that it will further make sure that credit expands at a reasonable pace.

The PBoC reiterated that the bank will maintain the yuan exchange rate basically stable, while continuing the currency market reforms.

The official data showed that the economy grew at a steady pace of 6.7 percent in the second quarter as stimulus measures and increased lending helped the economy to contain any further slowdown. The growth has remained within the government's full year target of 6.5-7 percent.