(Adds details, quotes)
BEIJING, April 14 (Reuters) - China's central bank said
on Friday it will maintain ample liquidity, stabilise growth and
jobs and focus on expanding domestic demand, as the economy
steadily picks up after lifting COVID-19 curbs.
The People's Bank of China will make its prudent monetary
policy precise and forceful and provide strong support for the
real economy, the bank said in a statement after a quarterly
meeting of its monetary policy committee.
"The domestic economy is showing a recovery trend, but the
foundation for recovery is not yet solid," it said, adding it
will "maintain reasonable and sufficient liquidity, maintain
reasonable and stable credit growth, and keep growth of money
supply and total social financing basically in line with
economic growth."
Recent data shows China's economy is staging a gradual but
uneven recovery, led by consumption, services and
infrastructure, but slowing inflation and surging bank savings
raise doubts over the strength of a pick-up in domestic demand.
The economy likely grew 4.0% in the first quarter from a
year earlier, quickening from 2.9% in the previous three months,
according to a Reuters poll. The government has set a modest
growth target of around 5% for this year.
The central bank will improve its policy transmission
mechanism, adding that efforts should be made to ensure that
financial support for private enterprises is in line with their
contributions to economic and social development.
It will also boost support for inclusive financing, green
development, tech innovation, infrastructure.
China will guide healthy development of financial businesses
of platform companies and will effectively fend off risks of
premium property firms, the central bank added.
(Reporting by Beijing newsroom and Kevin Yao; Editing by Toby
Chopra and Mike Harrison)
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