China to maintain prudent monetary policy: central bank

BEIJING -- China will stick to prudent monetary policy in 2017, the central bank said Friday, while putting more emphasis on maintaining it at an appropriate degree and keeping it neutral.

The People's Bank of China also vowed to keep liquidity basically stable in its statement issued after the fourth quarter monetary policy committee meeting.

The RMB exchange rate will basically remain at an equilibrium, and China would continue interest rate and exchange rate reform.

While pledging to maintain reasonable growth in bank credit and social financing, the central bank said it will increase the proportion of direct financing.

To meet the needs of supply-side structural reform, the bank said it would deepen financial system reforms, improve operating efficiency and ability to serve the real economy while enhancing risk control.