China's central bank vows to support economic recovery
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China's central bank said on Friday it will ensure reasonably ample liquidity and credit expansion to consolidate the country's economic recovery, which still faces many challenges. The People's Bank of China (PBOC) will guide the growth of credit and keep liquidity ample, the bank said in its quarterly monetary policy implementation report. "We will maintain the stability of monetary policy, enhance the consistency of macroeconomic policy orientation, strengthen counter-cyclical and cross-cyclical adjustments, increase support for the real economy, and effectively consolidate and enhance the positive trend of economic recovery," it said. "The global economic recovery momentum is divided, and uncertainties such as monetary policy adjustments and geopolitical conflicts in developed economies still exist. The sustained recovery of the domestic economy still faces many challenges." The Communist Party's ...