Trial now
     BEIJING (MNI) - The People's Bank of China (PBOC) will keep a prudent
monetary policy appropriately flexible this year, the central bank said on
Sunday following its annual work meeting.
     In the statement, PBOC said its 2020 work guidelines are also to:
     - step up countercyclical adjustments to keep liquidity reasonably ample
and the growth of credits and social financing in line with economic
development;
     - deepen interest rate market reform and continue loan rate liberalization;
     - continue support for banks to recapitalize through measures including
selling perpetuities;
     - pursue reserve ratio cuts for targeted financial institutions to
effectively boost financing to small companies;
     - let the market play a decisive role in setting the yuan exchange rate and
keep the currency stable in a reasonable range.
     At the same meeting, the State Administration of Foreign Exchange, a bureau
under the central bank, said it will liberalize the capital account orderly and
support the liberalization of the financial market.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: archie.zhang@marketnews.com
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
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