China will implement a sound monetary policy that is more precise and effective, maintain steady credit expansion and encourage financial institutions to further reduce real lending interest rates, said a report from the State Council on financial work. Enterprises' comprehensive financing costs and households' consumption credit costs will be alleviated while stability within the deposit and loan market will be maintained, Pan Gongsheng, governor of the People's Bank of China, the country's central bank, said while delivering the report, which was submitted on Saturday for deliberation at a session of the Standing ... (full story)