China central bank pledges a targeted, prudent policy

Beijing: China's central bank reiterated it will implement a targeted and prudent monetary policy in 2023, and provide support to domestic demand.

The People's Bank of China said it will "comprehensively use multiple monetary policy tools, and keep liquidity reasonably ample." The remarks in a statement Wednesday followed the PBOC's annual work conference.

The PBOC is expected to keep monetary policy loose for at least the next few months, with the economy still suffering disruption from widespread virus infections following the nation's abrupt exit from its Covid Zero stance.


Monetary stimulus in 2023 will be at least as strong as last year, and policy will be focused on supporting domestic demand, officials have recently said.