The People's Bank of China (PBOC) said it......>

PBOC: The People's Bank of China (PBOC) said it will improve its "dual-pillar"

policy framework, the framework that involves the use of both monetary tools and

macro-prudential regulations. The PBOC added that they will manage the total

money supply, encourage the growth of credits and the total scale of social

financing, whilst directing the central bank's liquidity to serve the needs of

the real economy more effectively, a statement their website said Monday.

- The PBOC also pledged to take the lead in preventing systemic financial risks;

support the Financial Stability and Development Committee under the State

Council to coordinate; consider issues from the perspective of the overall

macroeconomic situation and the financial market as a whole; and strive to form

a nationwide financial risk prevention system.

- According to the statement, the PBOC will also push forward financial reforms

in key areas and actively expand the opening of the financial sector.