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China central bank to maintain prudent monetary policy, eyes on shadow banking risks
May 12, 2017 / 12:44 PM / in 7 months

China central bank to maintain prudent monetary policy, eyes on shadow banking risks

BEIJING (Reuters) - China’s central bank said on Friday that it will maintain a prudent and neutral monetary policy and keep liquidity basically stable.

A staff member walks in front of the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, June 25, 2013. REUTERS/Jason Lee/File Photo

China will also strengthen oversight to prevent risks in the shadow banking category, including asset management products, the People’s Bank of China (PBOC) said in its first-quarter monetary policy implementation report.

The PBOC said it will provide necessary liquidity support for “reasonable growth of credit” but will control the increase in non-performing loans and restrict credit flowing into speculative housing purchases.

Reporting by Yawen Chen and Josephine Mason; Editing by Nick Macfie

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