Central Bank Pledges Enhanced Policy Efforts to Support Recovery

China’s central bank has pledged to enhance implementation of monetary policies to stimulate domestic demand and revitalize the economy.

Acknowledging that the economy is suffering from subdued demand and downbeat sentiment, the People’s Bank of China (PBOC) said it will implement prudent monetary policy in a more precise manner, pay more attention to counter-cyclical adjustments and make efforts to expand domestic demand and boost confidence, according to a Wednesday statement published after a recent policy meeting.