Central bank vows to innovate, improve macro-control measures

BEIJING - China's central bank will continue to improve its macro-control efforts as it promotes financial reform and opening up, vice governor Yi Gang said Tuesday.

The central bank is committed to implementing key proposals from the 13th Five-year Plan (2016-2020), Yi said at a seminar in Beijing.

It will continue to bring forth innovative and effective macro-control methods to maintain financial stability and further promote the readjustment of foreign exchange management to continue opening up, he said.

China will continue with financial system reforms for the next five years beginning in 2016 and establish a transparent and healthy capital market, according to the five-year plan proposed by the Communist Party of China (CPC) last Tuesday.

China is targeting "medium-high economic growth" in the coming five years, and aims to double its 2010 GDP and per capita income of both urban and rural residents by 2020 by ensuring more balanced, inclusive and sustainable development.