Premier Li vows prudent monetary policy

China will implement prudent monetary policy in a flexible, appropriate, targeted and effective way while making efforts to enhance the underlying stability of the capital market, said the Government Work Report delivered by Premier Li Qiang at the opening of the second session of the 14th National People's Congress on Tuesday.

The report said adequate liquidity will be maintained at a proper level and while aggregate financing and money supply will stay in step with the projected economic growth and increase in the consumer price index.

Efforts will be made to promote a steady decline in overall financing costs and maintain the renminbi exchange rate generally stable at an adaptive, balanced level, the report said.