China to maintain liquidity that aligns with GDP growth, price targets

This will also help reduce the overall financing costs for the real economy, according to a People's Bank of China (PBOC) statement following the bank monetary policy committee's fourth quarterly meeting.

The guiding role of central bank policy rates will be strengthened, the market-oriented interest rate formation and transmission mechanism will be improved, the self-regulatory pricing mechanism for market interest rates will be leveraged and the implementation and supervision of interest rate policies will be enhanced, a state-owned news agency reported.

The resilience of the foreign exchange market will be strengthened, market expectations will be stabilised, the risk of exchange-rate overshooting will be guarded and RMB exchange rate will be kept stable, the meeting decided.

ALCHEMPro News Desk (DS)