China will implement a prudent monetary policy and have a stronger hold on the floodgate of money supply for the second half (H2) of 2018, according to a work conference held by the People's Bank of China on Wednesday.
At present, the economic and financial situation at home and abroad is complicated, and the task for the second half of 2018 is arduous.
China will strengthen pre-adjustment and fine-tuning, and maintain a reasonable and sufficient liquidity. Meanwhile, the task of preventing and defusing financial risks and serving the real economy will be combined.
China will also continue to improve the financial services for small and micro enterprises, enhance assessment and incentives mechanisms, and implement various policies and measures to deepen the financial services.
China will further broaden its market access in the financial sector, steadily promote the internationalization of the RMB, and orderly realize the convertibility of RMB capital accounts. Investigations and researches will be launched to improve the management in the financial sector, creating a better financial reform and development environment.
