China to continue moderately easy monetary policy

The bank also pledged to further improve the formation mechanism of the yuan exchange rate, to increase its flexibility, according to a statement posted on the bank's website after the quarterly meeting of the bank's monetary policy committee presided over by PBOC governor Zhou Xiaochuan.

China's economy is in "good shape," and it is well on track to meet the government's macro-control targets, the statement said.

But the country still faces the tasks of maintaining steady and rapid economic development, restructuring its economy and controlling inflation, the statement added.

The bank also noted that the global economy is gradually recovering but that it still has structural problems and that it faces risks; Kazinform cites China Daily.

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