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PBOC: Monetary policy to be more precise, effective
China will implement a sound monetary policy that is more precise and effective, keeping steady credit expansion and encouraging financial institutions to further reduce real lending interest rates, said a report from the State Council on financial work. Enterprises' comprehensive financing costs and individuals' consumption credit costs will be alleviated while order of the deposit and loan market will 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 Committee ... (full story)