People's Bank of China Deputy Governor Liu:
- Needs time for China's economy to return to normal after pandemic
- China has not seen deflation, no deflationary risks in H2
- CPI could go lower in July, rebound in August
- Bank has ample policy tools, will step up counter-cyclical adjustments
- Will keep credit growth appropriate, will step up support for key sectors
- PBOC will deepen interest rate reforms
- Will guide banks to increase lending to small firms, to private firms
