China's central bank pledges prudent monetary policy in H2

BEIJING -- China will continue to maintain stable macro policies, refraining from "flood-like" stimulus measures and adopting a prudent monetary policy that focuses on supporting the real economy, the central bank said Saturday.

In a statement released after a Friday meeting on work for the second half of the year, the People's Bank of China pledged to keep a prudent monetary policy that is also flexible, targeted and reasonably moderate, and ramp up efforts to improve the green finance system.

In H2, it will also push forward financial opening-up, deepen financial reforms in key fields, and prudently carry out the pilot research and development of the digital RMB, the PBOC said.

To firmly prevent and defuse financial risks, it will strengthen macro-prudential management, advance the regulation of financial holding companies, and maintain a high level of pressure on firms speculating in virtual currencies, according to the central bank.