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PBOC Stresses Policy Flexibility as Economic Pressures Persist

The People's Bank of China headquarters in Beijing, China.

The People's Bank of China headquarters in Beijing, China.

Photographer: Giulia Marchi/Bloomberg

China’s central bank said it’ll keep monetary policy flexible and work to lower funding costs for businesses as the economy still faces strong headwinds.

The People’s Bank of China will work to ensure the transmission of monetary policy and use market-focused reform mechanisms to lower the real interest rate for loans, according to a quarterly report. It will keep the yuan basically stable at reasonable, equilibrium levels and maintain a balance between steady growth and risk prevention, it said.