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China central bank says will continue to implement prudent monetary policies

China central bank says will continue to implement prudent monetary policies
FILE PHOTO: Governor of People's Bank of China (PBOC) Yi Gang attends a news conference on China's economic development ahead of the 70th anniversary of its founding, in Beijing, China September 24, 2019. REUTERS/Florence Lo -
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Florence Lo(Reuters)
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SHANGHAI (Reuters) – China’s central bank will continue to implement prudent monetary policies and create an appropriate financial environment for high-quality economic growth, Governor Yi Gang said, according to the bank’s website.

Yi also said that China’s economic growth remains basically stable, despite facing downward pressure. The yuan currency is basically stable and credit is growing at a steady pace, he said.

Yi made the remarks during a G20 meeting in Washington held Oct 17-18, according to a statement posted on PBOC’s website on Saturday.

(Reporting by Samuel Shen and John Ruwitch)

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